15,315 Shares in Southern States Bancshares, Inc. (NASDAQ:SSBK) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,315 shares of the company’s stock, valued at approximately $471,000. Los Angeles Capital Management LLC owned about 0.17% of Southern States Bancshares at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Southern States Bancshares by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 8,958 shares of the company’s stock valued at $243,000 after purchasing an additional 586 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Southern States Bancshares during the second quarter worth approximately $245,000. Squarepoint Ops LLC acquired a new stake in shares of Southern States Bancshares in the second quarter worth $257,000. Kennedy Capital Management LLC increased its position in shares of Southern States Bancshares by 3.7% in the first quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after acquiring an additional 886 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Insider Activity

In other news, Director Brent O. Hitson sold 2,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.17, for a total value of $62,340.00. Following the completion of the sale, the director now owns 21,753 shares of the company’s stock, valued at approximately $678,041.01. The trade was a 8.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay F. Pumroy sold 2,995 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $32.13, for a total transaction of $96,229.35. Following the transaction, the director now directly owns 100,774 shares in the company, valued at $3,237,868.62. The trade was a 2.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SSBK. 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. Hovde Group lowered their target price on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd.

Southern States Bancshares Price Performance

Shares of SSBK stock opened at $36.63 on Friday. Southern States Bancshares, Inc. has a twelve month low of $22.13 and a twelve month high of $37.86. The company has a market capitalization of $326.63 million, a PE ratio of 10.32 and a beta of 0.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $31.38 and a 200-day simple moving average of $29.27.

Southern States Bancshares (NASDAQ:SSBK) last announced its earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.07). Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.88%. The business had revenue of $46.83 million for the quarter.

Southern States Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, November 1st. Southern States Bancshares’s payout ratio is 10.14%.

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.