Castalian Partners LLC Makes New Investment in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Castalian Partners LLC bought a new position in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 105,695 shares of the company's stock, valued at approximately $3,521,000. Southern States Bancshares comprises about 1.8% of Castalian Partners LLC's investment portfolio, making the stock its 12th biggest position. Castalian Partners LLC owned approximately 1.07% of Southern States Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased 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 valued at $5,927,000 after buying an additional 5,849 shares during the period. Kennedy Capital Management LLC raised its holdings in Southern States Bancshares by 10.1% in the 4th quarter. Kennedy Capital Management LLC now owns 96,850 shares of the company's stock worth $3,226,000 after purchasing an additional 8,863 shares in the last quarter. State Street Corp lifted its position 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 worth $2,895,000 after purchasing an additional 2,902 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Southern States Bancshares by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 74,176 shares of the company's stock valued at $2,471,000 after purchasing an additional 13,925 shares in the last quarter. Finally, Keystone Financial Group Inc. purchased a new position in shares of Southern States Bancshares during the fourth quarter valued at about $1,994,000. Hedge funds and other institutional investors own 58.73% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered shares of Southern States Bancshares from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd.

Southern States Bancshares Stock Up 0.5 %

Southern States Bancshares stock traded up $0.17 on Monday, hitting $35.19. 2,571 shares of the stock traded hands, compared to its average volume of 23,017. Southern States Bancshares, Inc. has a 1 year low of $24.86 and a 1 year high of $39.16. The firm has a market cap of $349.19 million, a P/E ratio of 9.60 and a beta of 0.27. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The business's fifty day simple moving average is $32.47 and its 200 day simple moving average is $33.42.

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

Southern States Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, May 1st. Southern States Bancshares's payout ratio is 9.47%.

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.