Curi RMB Capital LLC Sells 5,000 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Curi RMB Capital LLC reduced its stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,000 shares of the company’s stock after selling 5,000 shares during the period. Curi RMB Capital LLC owned approximately 1.35% of Southern States Bancshares worth $3,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Southern States Bancshares by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock valued at $9,066,000 after acquiring an additional 2,782 shares during the period. Kennedy Capital Management LLC lifted its position in Southern States Bancshares by 3.7% during the first quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after purchasing an additional 886 shares during the period. Bank of New York Mellon Corp lifted its position in Southern States Bancshares by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock worth $1,087,000 after purchasing an additional 3,708 shares during the period. Rhumbline Advisers grew its stake in Southern States Bancshares by 7.0% during the second quarter. Rhumbline Advisers now owns 8,958 shares of the company’s stock worth $243,000 after buying an additional 586 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Southern States Bancshares in the 2nd quarter valued at about $245,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Analyst Ratings Changes

SSBK has been the subject of a number of recent analyst reports. Hovde Group cut their price target on shares of Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $36.00 target price (up from $35.00) on shares of Southern States Bancshares in a research note on Tuesday, July 23rd.

Insider Activity at Southern States Bancshares

In other news, Director Brent O. Hitson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.17, for a total value of $62,340.00. Following the completion of the transaction, the director now owns 21,753 shares of the company’s stock, valued at $678,041.01. This represents a 8.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jay F. Pumroy sold 2,995 shares of Southern States Bancshares stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $32.13, for a total transaction of $96,229.35. Following the sale, the director now owns 100,774 shares in the company, valued at approximately $3,237,868.62. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by company insiders.

Southern States Bancshares Stock Performance

Southern States Bancshares stock opened at $36.57 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $326.20 million, a PE ratio of 10.30 and a beta of 0.21. Southern States Bancshares, Inc. has a 12-month low of $22.13 and a 12-month high of $37.86. The business’s 50-day moving average price is $31.15 and its two-hundred day moving average price is $29.14.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.07). The company had revenue of $46.83 million for the quarter. Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.88%.

Southern States Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, November 1st. Southern States Bancshares’s payout ratio is 10.14%.

Southern States Bancshares 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.