Private Capital Management LLC Buys Shares of 38,307 Southern States Bancshares, Inc. (NASDAQ:SSBK)

Private Capital Management LLC bought a new position in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 38,307 shares of the company's stock, valued at approximately $1,276,000. Private Capital Management LLC owned approximately 0.39% of Southern States Bancshares as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SSBK. BNP Paribas Financial Markets bought a new position in shares of Southern States Bancshares in the 4th quarter worth $36,000. Tower Research Capital LLC TRC lifted its stake in Southern States Bancshares by 235.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,455 shares of the company's stock valued at $48,000 after acquiring an additional 1,021 shares in the last quarter. SG Americas Securities LLC bought a new position in Southern States Bancshares during the 4th quarter valued at $115,000. Wells Fargo & Company MN lifted its stake in Southern States Bancshares by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the company's stock valued at $163,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in Southern States Bancshares during the 4th quarter valued at $207,000. 58.73% of the stock is currently owned by institutional investors.

Southern States Bancshares Trading Down 0.1%

Southern States Bancshares stock traded down $0.04 during trading hours on Friday, reaching $36.12. The company had a trading volume of 38,982 shares, compared to its average volume of 23,382. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day moving average price of $33.22 and a 200 day moving average price of $33.71. The firm has a market cap of $358.45 million, a price-to-earnings ratio of 9.84 and a beta of 0.28. Southern States Bancshares, Inc. has a 12-month low of $24.86 and a 12-month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last posted its earnings results on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%. The firm had revenue of $26.51 million for the quarter, compared to analysts' expectations of $26.80 million.

Southern States Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Thursday, May 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, May 1st. Southern States Bancshares's dividend payout ratio (DPR) is 9.47%.

Analysts Set New Price Targets

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

Southern States Bancshares 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.