Castalian Partners LLC acquired a new stake in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 portfolio, making the stock its 12th largest position. Castalian Partners LLC owned 1.07% of Southern States Bancshares at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Southern States Bancshares by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 172,073 shares of the company's stock worth $5,288,000 after acquiring an additional 2,717 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Southern States Bancshares by 206.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company's stock valued at $672,000 after purchasing an additional 14,740 shares in the last quarter. Barclays PLC raised its holdings in Southern States Bancshares by 292.5% in the 3rd quarter. Barclays PLC now owns 11,818 shares of the company's stock valued at $363,000 after acquiring an additional 8,807 shares during the last quarter. Empowered Funds LLC raised its stake in Southern States Bancshares by 5.2% during the fourth quarter. Empowered Funds LLC now owns 7,123 shares of the company's stock worth $237,000 after purchasing an additional 355 shares during the period. Finally, Marietta Wealth Management LLC purchased a new position in shares of Southern States Bancshares in the 4th quarter worth about $977,000. 58.73% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods downgraded Southern States Bancshares from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd.
Read Our Latest Analysis on Southern States Bancshares
Southern States Bancshares Price Performance
Shares of Southern States Bancshares stock opened at $33.76 on Wednesday. The stock has a market capitalization of $335.00 million, a price-to-earnings ratio of 9.20 and a beta of 0.27. Southern States Bancshares, Inc. has a 1-year low of $23.67 and a 1-year high of $39.16. 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 firm's 50-day moving average price is $32.33 and its two-hundred day moving average price is $33.35.
Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last announced its earnings results 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 firm had revenue of $26.51 million for the quarter, compared to the consensus estimate of $26.80 million.
Southern States Bancshares Announces Dividend
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. The ex-dividend date is Thursday, May 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. Southern States Bancshares's dividend payout ratio (DPR) is presently 9.47%.
Southern States Bancshares Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding SSBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report).
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