AJOVista LLC Purchases New Stake in Southern States Bancshares, Inc. (NASDAQ:SSBK)

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

Several other institutional investors also recently added to or reduced their stakes in SSBK. Concourse Financial Group Securities Inc. lifted its holdings in Southern States Bancshares by 133.4% during the third quarter. Concourse Financial Group Securities Inc. now owns 1,788 shares of the company’s stock valued at $40,000 after purchasing an additional 1,022 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Southern States Bancshares during the fourth quarter valued at about $121,000. OneAscent Wealth Management LLC purchased a new stake in Southern States Bancshares during the fourth quarter valued at about $225,000. Kennedy Capital Management LLC lifted its holdings in Southern States Bancshares by 2.4% during the third quarter. Kennedy Capital Management LLC now owns 23,547 shares of the company’s stock valued at $532,000 after purchasing an additional 554 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Southern States Bancshares by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 28,669 shares of the company’s stock valued at $648,000 after purchasing an additional 713 shares during the last quarter. Institutional investors own 58.73% of the company’s stock.

Analysts Set New Price Targets

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

Southern States Bancshares Trading Up 1.4 %

Shares of Southern States Bancshares stock opened at $26.25 on Tuesday. Southern States Bancshares, Inc. has a 12-month low of $19.61 and a 12-month high of $30.74. The company has a market cap of $233.10 million, a price-to-earnings ratio of 7.29 and a beta of 0.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $24.89 and its 200-day moving average price is $25.67.

Southern States Bancshares Dividend Announcement

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