Southern States Bancshares, Inc. (NASDAQ:SSBK) is Banc Funds Co. LLC's 4th Largest Position

Banc Funds Co. LLC lessened its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK - Free Report) by 3.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 717,213 shares of the company's stock after selling 25,440 shares during the quarter. Southern States Bancshares accounts for about 2.4% of Banc Funds Co. LLC's holdings, making the stock its 4th biggest position. Banc Funds Co. LLC owned approximately 8.04% of Southern States Bancshares worth $22,040,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new stake in shares of Southern States Bancshares during the 3rd quarter valued at approximately $208,000. OneAscent Wealth Management LLC acquired a new stake in shares of Southern States Bancshares during the 3rd quarter valued at approximately $236,000. Rhumbline Advisers lifted its position in shares of Southern States Bancshares by 7.0% during the 2nd quarter. Rhumbline Advisers now owns 8,958 shares of the company's stock valued at $243,000 after acquiring an additional 586 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Southern States Bancshares during the 2nd quarter valued at approximately $245,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Southern States Bancshares during the 2nd quarter valued at approximately $257,000. Hedge funds and other institutional investors own 58.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Hovde Group cut their price objective on Southern States Bancshares from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd.

Southern States Bancshares Price Performance

Shares of Southern States Bancshares stock traded up $0.35 during trading on Monday, hitting $37.57. 5,190 shares of the company were exchanged, compared to its average volume of 17,498. 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, Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $39.16. The stock has a market capitalization of $371.38 million, a price-to-earnings ratio of 10.57 and a beta of 0.21. The firm has a 50 day moving average price of $32.69 and a 200 day moving average price of $30.08.

Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.07). The business 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $0.09 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.36 annualized dividend and a yield of 0.96%. Southern States Bancshares's dividend payout ratio (DPR) is presently 10.14%.

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.