Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 206.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,883 shares of the company's stock after buying an additional 14,740 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Southern States Bancshares worth $672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of 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 buying an additional 2,717 shares in the last quarter. Martingale Asset Management L P boosted its stake in Southern States Bancshares by 17.5% during the 3rd quarter. Martingale Asset Management L P now owns 18,900 shares of the company's stock valued at $581,000 after acquiring an additional 2,812 shares during the last quarter. State Street Corp grew its holdings in Southern States Bancshares by 3.2% during the 3rd quarter. State Street Corp now owns 94,195 shares of the company's stock worth $2,895,000 after acquiring an additional 2,902 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Southern States Bancshares in the 3rd quarter worth about $208,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Southern States Bancshares in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 58.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group decreased their price target 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 Stock Performance

Shares of SSBK stock traded down $0.27 on Friday, hitting $33.32. 4,099 shares of the stock traded hands, compared to its average volume of 25,980. The company's fifty day moving average is $34.53 and its 200 day moving average is $32.40. Southern States Bancshares, Inc. has a 1-year low of $22.13 and a 1-year high of $39.16. The company has a market capitalization of $329.20 million, a PE ratio of 9.08 and a beta of 0.34. 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 (NASDAQ:SSBK - Get Free Report) last issued its earnings results on Tuesday, January 21st. The company reported $1.04 earnings per share for the quarter. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%.

Southern States Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.09 dividend. The ex-dividend date is Monday, February 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. Southern States Bancshares's dividend payout ratio is currently 9.81%.

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.