JPMorgan Chase & Co. Boosts Holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK)

JPMorgan Chase & Co. increased its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 60.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,025 shares of the company's stock after purchasing an additional 13,142 shares during the period. JPMorgan Chase & Co. owned 0.35% of Southern States Bancshares worth $1,167,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Southern States Bancshares by 54.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,426 shares of the company's stock worth $1,113,000 after buying an additional 11,789 shares in the last quarter. Bailard Inc. purchased a new stake in Southern States Bancshares in the 4th quarter worth $452,000. Bank of New York Mellon Corp lifted its stake in Southern States Bancshares by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 36,689 shares of the company's stock worth $1,222,000 after purchasing an additional 2,592 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Southern States Bancshares by 3.9% during the 4th quarter. Rhumbline Advisers now owns 8,779 shares of the company's stock valued at $292,000 after purchasing an additional 328 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Southern States Bancshares by 3,572.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the company's stock valued at $247,000 after purchasing an additional 7,216 shares in the last quarter. 58.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods downgraded Southern States Bancshares from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd.

Southern States Bancshares Price Performance

SSBK traded up $0.34 during trading hours on Tuesday, hitting $33.76. The company's stock had a trading volume of 22,074 shares, compared to its average volume of 22,951. The stock has a market cap of $335.00 million, a price-to-earnings ratio of 9.20 and a beta of 0.27. The business's 50-day moving average price is $32.30 and its 200-day moving average price is $33.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares, Inc. has a 12 month low of $23.67 and a 12 month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.05. The business had revenue of $26.51 million during the quarter, compared to analysts' expectations of $26.80 million. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%.

Southern States Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $0.36 annualized dividend and a yield of 1.07%. Southern States Bancshares's payout ratio is currently 9.47%.

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.