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

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 3rd will be given a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, May 2nd.

Southern States Bancshares has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Up 1.7 %

Southern States Bancshares stock opened at $23.76 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.05 and a quick ratio of 1.05. Southern States Bancshares has a fifty-two week low of $19.61 and a fifty-two week high of $30.74. The firm has a fifty day moving average price of $24.94 and a two-hundred day moving average price of $25.43. The firm has a market cap of $210.99 million, a price-to-earnings ratio of 6.69 and a beta of 0.14.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings data on Monday, January 22nd. The company reported $0.81 EPS for the quarter. Southern States Bancshares had a return on equity of 15.52% and a net margin of 22.64%. The business had revenue of $23.52 million for the quarter.

Institutional Trading of Southern States Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG raised its position in shares of Southern States Bancshares by 77.6% during the third quarter. UBS Group AG now owns 1,069 shares of the company’s stock valued at $29,000 after buying an additional 467 shares during the last quarter. Barclays PLC acquired a new position in Southern States Bancshares in the 2nd quarter valued at approximately $32,000. California State Teachers Retirement System bought a new stake in shares of Southern States Bancshares in the 2nd quarter worth approximately $53,000. Acadian Asset Management LLC acquired a new stake in shares of Southern States Bancshares during the 1st quarter worth approximately $59,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Southern States Bancshares by 6,525.6% during the 2nd quarter. Wells Fargo & Company MN now owns 2,849 shares of the company’s stock worth $60,000 after purchasing an additional 2,806 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.