Southern States Bancshares, Inc. (NASDAQ:SSBK) CFO Sells $64,300.00 in Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) CFO Lynn J. Joyce sold 2,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $32.15, for a total transaction of $64,300.00. Following the completion of the sale, the chief financial officer now directly owns 44,188 shares in the company, valued at $1,420,644.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Southern States Bancshares Trading Down 1.5 %

Shares of SSBK opened at $33.00 on Friday. The firm’s 50 day simple moving average is $27.27 and its 200 day simple moving average is $26.16. The company has a market capitalization of $294.03 million, a P/E ratio of 9.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.04 and a quick ratio of 1.04. Southern States Bancshares, Inc. has a 1-year low of $21.70 and a 1-year high of $34.72.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings results on Monday, July 22nd. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.89 by $0.11. The firm had revenue of $42.38 million for the quarter. Southern States Bancshares had a net margin of 20.68% and a return on equity of 15.96%.

Southern States Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, July 31st. Southern States Bancshares’s dividend payout ratio (DPR) is presently 10.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SSBK. SG Americas Securities LLC bought a new position in shares of Southern States Bancshares in the fourth quarter worth approximately $121,000. AJOVista LLC bought a new position in shares of Southern States Bancshares in the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its holdings in shares of Southern States Bancshares by 141.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,851 shares of the company’s stock worth $54,000 after purchasing an additional 1,085 shares during the last quarter. Banc Funds Co. LLC grew its holdings in shares of Southern States Bancshares by 29.5% in the fourth quarter. Banc Funds Co. LLC now owns 732,343 shares of the company’s stock worth $21,443,000 after purchasing an additional 166,700 shares during the last quarter. Finally, Mendon Capital Advisors Corp bought a new position in shares of Southern States Bancshares in the fourth quarter worth approximately $4,099,000. 58.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $36.00 target price (up from $35.00) on shares of Southern States Bancshares in a research note on Tuesday, July 23rd.

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.