59,868 Shares in Southern States Bancshares, Inc. (NASDAQ:SSBK) Acquired by Keystone Financial Group Inc.

Keystone Financial Group Inc. acquired a new position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 59,868 shares of the company's stock, valued at approximately $1,994,000. Southern States Bancshares makes up 1.6% of Keystone Financial Group Inc.'s holdings, making the stock its 14th biggest holding. Keystone Financial Group Inc. owned about 0.61% of Southern States Bancshares at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC acquired a new stake in shares of Southern States Bancshares in the fourth quarter valued at $977,000. Los Angeles Capital Management LLC purchased a new position in Southern States Bancshares in the third quarter valued at $471,000. JPMorgan Chase & Co. boosted its holdings in Southern States Bancshares by 206.4% in the third quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company's stock valued at $672,000 after purchasing an additional 14,740 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Southern States Bancshares by 88.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,637 shares of the company's stock valued at $665,000 after purchasing an additional 10,135 shares during the period. Finally, RFG Advisory LLC purchased a new position in Southern States Bancshares in the fourth quarter valued at $334,000. Hedge funds and other institutional investors own 58.73% of the company's stock.

Southern States Bancshares Stock Performance

SSBK stock traded up $0.23 during trading on Tuesday, hitting $33.32. The company had a trading volume of 4,195 shares, compared to its average volume of 21,978. The firm has a market cap of $329.20 million, a PE ratio of 9.11 and a beta of 0.33. Southern States Bancshares, Inc. has a 1-year low of $22.13 and a 1-year high of $39.16. The firm has a 50-day moving average price of $33.90 and a 200-day moving average price of $32.53. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last released its earnings results on Tuesday, January 21st. The company reported $1.04 earnings per share (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 Dividend Announcement

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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, February 3rd. Southern States Bancshares's payout ratio is 9.81%.

Analysts Set New Price Targets

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 report on Tuesday, October 22nd.

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.