Southern States Bancshares, Inc. (NASDAQ:SSBK) Announces Quarterly Dividend of $0.09

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Friday, May 3rd will be paid a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Thursday, May 2nd.

Southern States Bancshares has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Price Performance

Shares of NASDAQ SSBK opened at $23.76 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day moving average of $24.94 and a 200 day moving average of $25.43. The firm has a market cap of $210.99 million, a PE ratio of 6.69 and a beta of 0.14. Southern States Bancshares has a one year low of $19.61 and a one year high of $30.74.

Southern States Bancshares (NASDAQ:SSBK) last released its earnings results on Monday, January 22nd. The company reported $0.81 EPS for the quarter. The business had revenue of $23.52 million during the quarter. Southern States Bancshares had a net margin of 22.64% and a return on equity of 15.52%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Southern States Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the company from $32.00 to $35.00 in a research report on Friday, March 15th.

Institutional Investors Weigh In On Southern States Bancshares

A number of large investors have recently modified their holdings of the business. UBS Group AG boosted its position in Southern States Bancshares by 77.6% during the third quarter. UBS Group AG now owns 1,069 shares of the company’s stock worth $29,000 after acquiring an additional 467 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Southern States Bancshares by 0.9% during the 4th quarter. Stifel Financial Corp now owns 52,034 shares of the company’s stock worth $1,524,000 after purchasing an additional 485 shares during the last quarter. Citigroup Inc. grew its position in shares of Southern States Bancshares by 12.5% in the first quarter. Citigroup Inc. now owns 5,132 shares of the company’s stock valued at $116,000 after purchasing an additional 569 shares in the last quarter. Waverly Advisors LLC grew its position in shares of Southern States Bancshares by 0.9% in the first quarter. Waverly Advisors LLC now owns 104,012 shares of the company’s stock valued at $2,345,000 after purchasing an additional 884 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Southern States Bancshares by 1.6% in the first quarter. BlackRock Inc. now owns 62,275 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,005 shares during the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

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.