Southern States Bancshares, Inc. (NASDAQ:SSBK) Short Interest Update

Southern States Bancshares, Inc. (NASDAQ:SSBK) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 37,800 shares, a decline of 16.2% from the October 31st total of 45,100 shares. Based on an average daily trading volume, of 18,900 shares, the short-interest ratio is presently 2.0 days. Approximately 0.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Southern States Bancshares Stock Down 0.5 %

Shares of NASDAQ SSBK opened at $37.22 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. 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 has a 12-month low of $22.13 and a 12-month high of $39.16. The firm’s 50-day simple moving average is $32.69 and its 200 day simple moving average is $30.04.

Southern States Bancshares (NASDAQ:SSBK) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%. The company had revenue of $46.83 million during the quarter.

Southern States Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 1st. Southern States Bancshares’s dividend payout ratio is 10.14%.

Institutional Trading of Southern States Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSBK. Barclays PLC raised its stake in shares of Southern States Bancshares by 292.5% during the third quarter. Barclays PLC now owns 11,818 shares of the company’s stock worth $363,000 after buying an additional 8,807 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Southern States Bancshares by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock valued at $5,288,000 after purchasing an additional 2,717 shares during the period. State Street Corp boosted its position in shares of Southern States Bancshares by 3.2% in the 3rd quarter. State Street Corp now owns 94,195 shares of the company’s stock worth $2,895,000 after purchasing an additional 2,902 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Southern States Bancshares during the third quarter worth $221,000. Finally, Martingale Asset Management L P increased its holdings in Southern States Bancshares by 17.5% in the third quarter. Martingale Asset Management L P now owns 18,900 shares of the company’s stock valued at $581,000 after purchasing an additional 2,812 shares during the last quarter. 58.73% of the stock is owned by institutional investors.

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.