Southern States Bancshares, Inc. Announces Quarterly Dividend of $0.09 (NASDAQ:SSBK)

Southern States Bancshares, Inc. (NASDAQ:SSBK - Get Free Report) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, May 2nd.

Southern States Bancshares has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Price Performance

NASDAQ SSBK traded up $0.24 on Friday, reaching $24.00. The company had a trading volume of 8,883 shares, compared to its average volume of 12,970. The stock has a market capitalization of $213.12 million, a PE ratio of 6.76 and a beta of 0.14. Southern States Bancshares has a 12 month low of $19.61 and a 12 month high of $30.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.85. The firm's 50 day moving average price is $24.89 and its 200 day moving average price is $25.44.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last issued its earnings results on Monday, January 22nd. The company reported $0.81 earnings per share (EPS) for the quarter. Southern States Bancshares had a return on equity of 15.52% and a net margin of 22.64%. The firm had revenue of $23.52 million for the quarter.

Institutional Trading of Southern States Bancshares

A number of large investors have recently made changes to their positions in the business. UBS Group AG grew its position in Southern States Bancshares by 77.6% in the third quarter. UBS Group AG now owns 1,069 shares of the company's stock worth $29,000 after acquiring an additional 467 shares in the last quarter. Stifel Financial Corp increased its position in shares of Southern States Bancshares by 0.9% during the 4th quarter. Stifel Financial Corp now owns 52,034 shares of the company's stock valued at $1,524,000 after purchasing an additional 485 shares during the last quarter. Citigroup Inc. raised its holdings in Southern States Bancshares by 12.5% during the 1st quarter. Citigroup Inc. now owns 5,132 shares of the company's stock valued at $116,000 after buying an additional 569 shares during the period. Waverly Advisors LLC lifted its position in Southern States Bancshares by 0.9% in the first quarter. Waverly Advisors LLC now owns 104,012 shares of the company's stock worth $2,345,000 after buying an additional 884 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Southern States Bancshares by 1.6% in the first quarter. BlackRock Inc. now owns 62,275 shares of the company's stock worth $1,404,000 after buying an additional 1,005 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Southern States Bancshares from a "market perform" rating to an "outperform" rating and increased their target price for the company from $32.00 to $35.00 in a research report on Friday, March 15th.

About Southern States Bancshares

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.