JPMorgan Chase & Co. Increases Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

JPMorgan Chase & Co. lifted its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 60.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,025 shares of the company's stock after buying an additional 13,142 shares during the quarter. JPMorgan Chase & Co. owned 0.35% of Southern States Bancshares worth $1,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Southern States Bancshares in the 4th quarter valued at about $115,000. Empowered Funds LLC grew its holdings in shares of Southern States Bancshares by 5.2% in the 4th 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 stake in Southern States Bancshares by 3,572.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the company's stock valued at $247,000 after purchasing an additional 7,216 shares in the last quarter. Rhumbline Advisers boosted its position in Southern States Bancshares by 3.9% during the fourth quarter. Rhumbline Advisers now owns 8,779 shares of the company's stock worth $292,000 after purchasing an additional 328 shares in the last quarter. Finally, RFG Advisory LLC acquired a new stake in Southern States Bancshares in the fourth quarter valued at $334,000. Institutional investors and hedge funds own 58.73% of the company's stock.

Analyst Upgrades and Downgrades

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

Southern States Bancshares Trading Up 0.8 %

Shares of Southern States Bancshares stock traded up $0.26 during mid-day trading on Thursday, hitting $33.58. 1,593 shares of the stock were exchanged, compared to its average volume of 22,907. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $333.21 million, a price-to-earnings ratio of 9.15 and a beta of 0.27. The company has a 50-day simple moving average of $32.36 and a 200 day simple moving average of $33.35. Southern States Bancshares, Inc. has a twelve month low of $24.39 and a twelve 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 earnings per share for the quarter, topping 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 the consensus estimate of $26.80 million.

Southern States Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Thursday, May 1st will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, May 1st. Southern States Bancshares's dividend payout ratio (DPR) is presently 9.47%.

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.