Kennedy Capital Management LLC Purchases 8,863 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Kennedy Capital Management LLC increased its holdings in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 96,850 shares of the company's stock after acquiring an additional 8,863 shares during the period. Kennedy Capital Management LLC owned about 0.98% of Southern States Bancshares worth $3,226,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Southern States Bancshares during the fourth quarter valued at $115,000. Wells Fargo & Company MN grew its stake in Southern States Bancshares by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the company's stock worth $163,000 after acquiring an additional 1,067 shares in the last quarter. Empowered Funds LLC increased its position in shares of 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 acquiring an additional 355 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Southern States Bancshares by 3,572.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the company's stock worth $247,000 after purchasing an additional 7,216 shares during the period. Finally, Rhumbline Advisers raised its position in Southern States Bancshares by 3.9% during the 4th quarter. Rhumbline Advisers now owns 8,779 shares of the company's stock valued at $292,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 58.73% of the company's stock.

Southern States Bancshares Stock Up 0.8 %

Shares of Southern States Bancshares stock traded up $0.24 during trading on Friday, hitting $31.58. 50,578 shares of the stock traded hands, compared to its average volume of 22,102. Southern States Bancshares, Inc. has a 52-week low of $23.52 and a 52-week high of $39.16. The stock's fifty day simple moving average is $32.36 and its 200 day simple moving average is $33.13. The firm has a market cap of $313.34 million, a P/E ratio of 8.60 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.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $1.04 EPS for the quarter. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%.

Southern States Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Thursday, May 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.14%. Southern States Bancshares's payout ratio is 9.81%.

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.