Keefe, Bruyette & Woods cut shares of Southern States Bancshares (NASDAQ:SSBK - Free Report) from a moderate buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.
Southern States Bancshares Trading Down 1.4 %
Southern States Bancshares stock traded down $0.46 during trading on Tuesday, hitting $32.88. The company's stock had a trading volume of 26,324 shares, compared to its average volume of 22,876. The stock's fifty day moving average is $32.30 and its 200 day moving average is $33.29. Southern States Bancshares has a 1-year low of $23.67 and a 1-year high of $39.16. The stock has a market capitalization of $326.27 million, a price-to-earnings ratio of 8.96 and a beta of 0.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02.
Southern States Bancshares (NASDAQ:SSBK - Get Free Report) last released its earnings results on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%. The business had revenue of $26.51 million for the quarter, compared to analysts' expectations of $26.80 million.
Southern States Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Thursday, May 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Thursday, May 1st. Southern States Bancshares's dividend payout ratio (DPR) is currently 9.47%.
Institutional Investors Weigh In On Southern States Bancshares
A number of institutional investors have recently added to or reduced their stakes in SSBK. GAMMA Investing LLC acquired a new position in Southern States Bancshares during the first quarter valued at approximately $29,000. BNP Paribas Financial Markets bought a new stake in shares of Southern States Bancshares in the 4th quarter worth about $36,000. Tower Research Capital LLC TRC raised its stake in Southern States Bancshares by 235.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,455 shares of the company's stock valued at $48,000 after buying an additional 1,021 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Southern States Bancshares during the 4th quarter valued at approximately $115,000. Finally, Wells Fargo & Company MN lifted its position in shares of Southern States Bancshares by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the company's stock worth $163,000 after buying an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 58.73% of the company's stock.
Southern States Bancshares Company Profile
(
Get Free Report)
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.
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