AJOVista LLC Makes New Investment in Southern States Bancshares, Inc. (NASDAQ:SSBK)

AJOVista LLC purchased a new position in Southern States Bancshares, Inc. (NASDAQ:SSBK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,049 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SSBK. Bank of New York Mellon Corp boosted its stake in Southern States Bancshares by 2.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 28,669 shares of the company’s stock worth $648,000 after purchasing an additional 713 shares during the period. Concourse Financial Group Securities Inc. boosted its position in shares of Southern States Bancshares by 133.4% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 1,788 shares of the company’s stock valued at $40,000 after acquiring an additional 1,022 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of Southern States Bancshares by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 23,547 shares of the company’s stock valued at $532,000 after acquiring an additional 554 shares during the last quarter. OneAscent Wealth Management LLC bought a new position in shares of Southern States Bancshares during the 4th quarter valued at approximately $225,000. Finally, SG Americas Securities LLC bought a new position in shares of Southern States Bancshares during the 4th quarter valued at approximately $121,000. 58.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded Southern States Bancshares from a “market perform” rating to an “outperform” rating and increased their target price for the company from $32.00 to $35.00 in a research report on Friday, March 15th.

Southern States Bancshares Stock Up 1.4 %

Shares of SSBK opened at $26.25 on Tuesday. The company has a market cap of $233.10 million, a PE ratio of 7.29 and a beta of 0.18. The business has a fifty day moving average of $24.89 and a 200 day moving average of $25.67. Southern States Bancshares, Inc. has a 52-week low of $19.61 and a 52-week high of $30.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.85.

Southern States Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Friday, May 3rd will be given a $0.09 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 1.37%. Southern States Bancshares’s dividend payout ratio is presently 10.00%.

Southern States Bancshares Company Profile

Southern States Bancshares, Inc operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. The company provides various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits.