Southern States Bancshares, Inc. (NASDAQ:SSBK) Short Interest Down 16.2% in November

Southern States Bancshares, Inc. (NASDAQ:SSBK - Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 37,800 shares, a decrease of 16.2% from the October 31st total of 45,100 shares. Based on an average daily volume of 18,900 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.5% of the company's shares are sold short.

Southern States Bancshares Price Performance

Southern States Bancshares stock opened at $37.22 on Friday. Southern States Bancshares has a 1 year low of $22.13 and a 1 year high of $39.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day moving average price of $32.69 and a 200 day moving average price of $30.04. The company has a market cap of $367.73 million, a price-to-earnings ratio of 10.48 and a beta of 0.21.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.07). The company had revenue of $46.83 million for 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 was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. Southern States Bancshares's dividend payout ratio (DPR) is 10.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group decreased 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.

Institutional Trading of Southern States Bancshares

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Southern States Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 349,767 shares of the company's stock valued at $9,066,000 after buying an additional 2,782 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Southern States Bancshares by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company's stock valued at $1,087,000 after acquiring an additional 3,708 shares in the last quarter. Rhumbline Advisers boosted its position in Southern States Bancshares by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 8,958 shares of the company's stock worth $243,000 after purchasing an additional 586 shares during the period. Acadian Asset Management LLC acquired a new stake in Southern States Bancshares in the 2nd quarter valued at $245,000. Finally, Dimensional Fund Advisors LP increased its holdings in Southern States Bancshares by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company's stock valued at $1,371,000 after purchasing an additional 9,244 shares in the last quarter. Hedge funds and other institutional investors own 58.73% of the company's stock.

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.