Southern States Bancshares, Inc. (NASDAQ:SSBK) is Banc Funds Co. LLC's 4th Largest Position

Banc Funds Co. LLC decreased its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 695,813 shares of the company's stock after selling 21,400 shares during the period. Southern States Bancshares comprises approximately 2.6% of Banc Funds Co. LLC's portfolio, making the stock its 4th largest position. Banc Funds Co. LLC owned 7.04% of Southern States Bancshares worth $23,178,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Southern States Bancshares by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 177,922 shares of the company's stock worth $5,927,000 after purchasing an additional 5,849 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Southern States Bancshares by 10.1% during the 4th quarter. Kennedy Capital Management LLC now owns 96,850 shares of the company's stock worth $3,226,000 after acquiring an additional 8,863 shares in the last quarter. State Street Corp increased its holdings in shares of Southern States Bancshares by 3.2% in the 3rd quarter. State Street Corp now owns 94,195 shares of the company's stock valued at $2,895,000 after acquiring an additional 2,902 shares during the last quarter. Keystone Financial Group Inc. acquired a new stake in shares of Southern States Bancshares during the 4th quarter worth about $1,994,000. Finally, Bank of New York Mellon Corp lifted its stake in Southern States Bancshares by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 36,689 shares of the company's stock worth $1,222,000 after purchasing an additional 2,592 shares during the last quarter. Hedge funds and other institutional investors own 58.73% of the company's stock.

Southern States Bancshares Stock Up 2.1 %

Southern States Bancshares stock traded up $0.67 during mid-day trading on Tuesday, hitting $31.74. The company had a trading volume of 46,842 shares, compared to its average volume of 22,378. The stock has a market cap of $314.90 million, a price-to-earnings ratio of 8.66 and a beta of 0.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares, Inc. has a 1 year low of $23.52 and a 1 year high of $39.16. The business has a fifty day moving average of $32.30 and a 200 day moving average of $33.22.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $26.51 million during the quarter, compared to the consensus estimate of $26.80 million. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%.

Southern States Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Thursday, May 1st will be issued a $0.09 dividend. The ex-dividend date is Thursday, May 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.13%. Southern States Bancshares's payout ratio is 9.81%.

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.