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

Private Capital Management LLC acquired a new position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,307 shares of the company's stock, valued at approximately $1,276,000. Private Capital Management LLC owned about 0.39% of Southern States Bancshares at the end of the most recent reporting period.

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

Southern States Bancshares Stock Down 0.3%

Shares of SSBK stock traded down $0.11 during midday trading on Tuesday, reaching $36.23. 4,723 shares of the stock were exchanged, compared to its average volume of 23,293. The firm has a market cap of $359.50 million, a PE ratio of 9.87 and a beta of 0.28. The company's 50 day moving average is $33.31 and its two-hundred day moving average is $33.78. Southern States Bancshares, Inc. has a 1 year low of $24.86 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.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last issued its earnings results 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. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%. The business had revenue of $26.51 million during the quarter, compared to analysts' expectations of $26.80 million.

Southern States Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Thursday, May 1st were issued a $0.09 dividend. The ex-dividend date was Thursday, May 1st. This represents a $0.36 annualized dividend and a yield of 0.99%. Southern States Bancshares's payout ratio is 9.47%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered Southern States Bancshares from a "moderate buy" rating to a "hold" rating in a research note 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.