Southern States Bancshares, Inc. Plans Quarterly Dividend of $0.09 (NASDAQ:SSBK)

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.09 per share on Monday, August 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, July 31st.

Southern States Bancshares has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Trading Down 1.5 %

Shares of SSBK opened at $33.00 on Monday. Southern States Bancshares has a 1-year low of $21.70 and a 1-year high of $34.72. The company has a market capitalization of $294.03 million, a P/E ratio of 9.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50 day simple moving average is $27.27 and its 200 day simple moving average is $26.15.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings data on Monday, July 22nd. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.11. Southern States Bancshares had a net margin of 20.68% and a return on equity of 15.96%. The company had revenue of $42.38 million during the quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $36.00 price objective (up from $35.00) on shares of Southern States Bancshares in a report on Tuesday, July 23rd.

Insider Activity

In related news, CFO Lynn J. Joyce sold 2,000 shares of Southern States Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $32.15, for a total value of $64,300.00. Following the transaction, the chief financial officer now owns 44,188 shares in the company, valued at approximately $1,420,644.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.80% of the stock is owned by corporate insiders.

About Southern States Bancshares

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.