Dimensional Fund Advisors LP Has $2.47 Million Stock Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Dimensional Fund Advisors LP increased its position in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,176 shares of the company's stock after purchasing an additional 13,925 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.75% of Southern States Bancshares worth $2,471,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SSBK. Keystone Financial Group Inc. acquired a new position in shares of Southern States Bancshares during the 4th quarter worth about $1,994,000. Marietta Wealth Management LLC bought a new position in shares of Southern States Bancshares during the 4th quarter valued at about $977,000. EAM Investors LLC bought a new position in shares of Southern States Bancshares during the 4th quarter valued at about $671,000. JPMorgan Chase & Co. lifted its holdings in shares of Southern States Bancshares by 206.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company's stock valued at $672,000 after purchasing an additional 14,740 shares in the last quarter. Finally, Bailard Inc. bought a new position in shares of Southern States Bancshares during the 4th quarter valued at about $452,000. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Southern States Bancshares Stock Down 0.4%

NASDAQ SSBK traded down $0.16 during trading on Tuesday, hitting $36.17. The stock had a trading volume of 171 shares, compared to its average volume of 23,279. The company has a market capitalization of $358.95 million, a PE ratio of 9.89 and a beta of 0.28. The company's 50-day moving average price is $33.31 and its two-hundred day moving average price is $33.78. 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, 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 released its earnings results on Monday, April 21st. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $26.51 million for the quarter, compared to analysts' expectations 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 Announces Dividend

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

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.