Millennium Management LLC Has $312,000 Holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Millennium Management LLC trimmed its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 58.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,365 shares of the company's stock after selling 13,062 shares during the quarter. Millennium Management LLC owned 0.09% of Southern States Bancshares worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Southern States Bancshares in the 4th quarter worth about $214,000. Cresset Asset Management LLC bought a new position in shares of Southern States Bancshares in the fourth quarter valued at approximately $207,000. Bridgeway Capital Management LLC grew its position in Southern States Bancshares by 0.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 62,123 shares of the company's stock worth $2,069,000 after acquiring an additional 355 shares during the last quarter. Bank of America Corp DE increased its holdings in Southern States Bancshares by 46.8% during the 4th quarter. Bank of America Corp DE now owns 8,344 shares of the company's stock valued at $278,000 after purchasing an additional 2,661 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Southern States Bancshares in the 4th quarter valued at $36,000. 58.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Southern States Bancshares Price Performance

Shares of NASDAQ SSBK traded down $0.17 during trading on Friday, reaching $34.54. The company had a trading volume of 36,529 shares, compared to its average volume of 23,709. Southern States Bancshares, Inc. has a 52 week low of $25.08 and a 52 week high of $39.16. The business's 50 day moving average price is $34.02 and its 200-day moving average price is $33.63. The stock has a market cap of $342.91 million, a PE ratio of 9.41 and a beta of 0.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $26.51 million for 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Thursday, May 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, May 1st. Southern States Bancshares's dividend 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.