Barclays PLC Acquires 8,807 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Barclays PLC lifted its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 292.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,818 shares of the company's stock after acquiring an additional 8,807 shares during the quarter. Barclays PLC owned approximately 0.12% of Southern States Bancshares worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SSBK. Geode Capital Management LLC boosted its holdings in shares of Southern States Bancshares by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 172,073 shares of the company's stock worth $5,288,000 after buying an additional 2,717 shares in the last quarter. State Street Corp grew its holdings in Southern States Bancshares by 3.2% in the third quarter. State Street Corp now owns 94,195 shares of the company's stock worth $2,895,000 after purchasing an additional 2,902 shares during the period. Quadrature Capital Ltd bought a new stake in Southern States Bancshares in the third quarter valued at $221,000. Martingale Asset Management L P raised its holdings in shares of Southern States Bancshares by 17.5% during the third quarter. Martingale Asset Management L P now owns 18,900 shares of the company's stock valued at $581,000 after purchasing an additional 2,812 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Southern States Bancshares by 88.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,637 shares of the company's stock worth $665,000 after purchasing an additional 10,135 shares in the last quarter. Institutional investors and hedge funds own 58.73% of the company's stock.

Southern States Bancshares Stock Up 2.1 %

Shares of NASDAQ:SSBK traded up $0.69 during midday trading on Monday, hitting $34.11. 19,313 shares of the company's stock were exchanged, compared to its average volume of 21,669. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. Southern States Bancshares, Inc. has a 12 month low of $22.13 and a 12 month high of $39.16. The company has a market cap of $337.01 million, a PE ratio of 9.61 and a beta of 0.34. The stock has a 50 day moving average price of $34.99 and a 200-day moving average price of $32.11.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last posted its earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.07). The company had revenue of $46.83 million during the quarter. Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%.

Southern States Bancshares Dividend Announcement

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 issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, February 3rd. Southern States Bancshares's dividend payout ratio is 10.14%.

Analyst Ratings Changes

Separately, Hovde Group dropped their price target on Southern States Bancshares from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd.

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.