10,025 Shares in Southern States Bancshares, Inc. (NASDAQ:SSBK) Bought by RFG Advisory LLC

RFG Advisory LLC acquired a new position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,025 shares of the company's stock, valued at approximately $334,000. RFG Advisory LLC owned approximately 0.10% of Southern States Bancshares at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in Southern States Bancshares by 1.6% during the third quarter. Geode Capital Management LLC now owns 172,073 shares of the company's stock worth $5,288,000 after purchasing an additional 2,717 shares during the last quarter. State Street Corp lifted its position in Southern States Bancshares by 3.2% in the 3rd quarter. State Street Corp now owns 94,195 shares of the company's stock worth $2,895,000 after buying an additional 2,902 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Southern States Bancshares by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company's stock worth $1,371,000 after buying an additional 9,244 shares in the last quarter. JPMorgan Chase & Co. grew its position in Southern States Bancshares by 206.4% during the third quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company's stock valued at $672,000 after acquiring an additional 14,740 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Southern States Bancshares by 88.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,637 shares of the company's stock worth $665,000 after acquiring an additional 10,135 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Hovde Group cut their price objective on shares of 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 Trading Down 2.1 %

Shares of SSBK traded down $0.71 during trading hours on Friday, hitting $32.88. The company had a trading volume of 10,888 shares, compared to its average volume of 25,020. Southern States Bancshares, Inc. has a 52-week low of $22.13 and a 52-week high of $39.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. The stock's 50 day moving average price is $34.44 and its 200 day moving average price is $32.44. The firm has a market cap of $324.85 million, a P/E ratio of 8.96 and a beta of 0.34.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $1.04 EPS for the quarter. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%.

Southern States Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, February 3rd. Southern States Bancshares's payout ratio is 9.81%.

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.