Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Sells $62,340.00 in Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Brent O. Hitson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.17, for a total transaction of $62,340.00. Following the completion of the transaction, the director now directly owns 21,753 shares of the company’s stock, valued at approximately $678,041.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Southern States Bancshares Trading Down 0.4 %

NASDAQ:SSBK opened at $30.91 on Thursday. The stock has a market capitalization of $275.72 million, a price-to-earnings ratio of 8.76 and a beta of 0.22. Southern States Bancshares, Inc. has a 52 week low of $21.70 and a 52 week high of $34.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $29.65 and a 200 day moving average of $26.91.

Southern States Bancshares (NASDAQ:SSBK) last issued its quarterly earnings data on Monday, July 22nd. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.89 by $0.11. The firm had revenue of $42.38 million during the quarter. Southern States Bancshares had a return on equity of 15.64% and a net margin of 20.68%.

Southern States Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.16%. The ex-dividend date was Wednesday, July 31st. Southern States Bancshares’s dividend payout ratio is presently 10.00%.

Institutional Investors Weigh In On Southern States Bancshares

A number of large investors have recently modified their holdings of the business. Banc Funds Co. LLC boosted its stake in Southern States Bancshares by 29.5% in the 4th quarter. Banc Funds Co. LLC now owns 732,343 shares of the company’s stock worth $21,443,000 after purchasing an additional 166,700 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Southern States Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock worth $9,066,000 after buying an additional 2,782 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Southern States Bancshares by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company’s stock valued at $1,371,000 after buying an additional 9,244 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Southern States Bancshares by 10.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock valued at $1,087,000 after acquiring an additional 3,708 shares during the period. Finally, Kennedy Capital Management LLC raised its stake in Southern States Bancshares by 3.7% in the 1st quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after acquiring an additional 886 shares during the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $36.00 price target (up from $35.00) on shares of Southern States Bancshares in a report on Tuesday, July 23rd.

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.