Southern States Bancshares (NASDAQ:SSBK) Posts Earnings Results

Southern States Bancshares (NASDAQ:SSBK) posted its earnings results on Tuesday. The company reported $1.04 earnings per share for the quarter, Zacks reports. Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%.

Southern States Bancshares Trading Up 1.5 %

Shares of Southern States Bancshares stock opened at $34.63 on Wednesday. The stock has a market capitalization of $342.14 million, a P/E ratio of 9.75 and a beta of 0.34. Southern States Bancshares has a 12-month low of $22.13 and a 12-month high of $39.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $34.99 and a 200 day simple moving average of $32.11.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, February 3rd. Southern States Bancshares’s payout ratio is 10.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group decreased their price objective on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd.

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.