Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Sells $96,229.35 in Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Jay F. Pumroy sold 2,995 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.13, for a total value of $96,229.35. Following the sale, the director now directly owns 100,774 shares of the company’s stock, valued at approximately $3,237,868.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Southern States Bancshares Trading Up 2.4 %

Shares of SSBK opened at $31.92 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Southern States Bancshares, Inc. has a 52-week low of $21.70 and a 52-week high of $34.72. The firm has a market cap of $284.73 million, a price-to-earnings ratio of 8.87 and a beta of 0.23. The business’s fifty day moving average is $29.33 and its 200-day moving average is $26.74.

Southern States Bancshares (NASDAQ:SSBK) last posted its earnings results on Monday, July 22nd. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.11. The firm had revenue of $42.38 million during the quarter. Southern States Bancshares had a net margin of 20.68% and a return on equity of 15.64%.

Southern States Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, July 31st. Southern States Bancshares’s dividend payout ratio (DPR) is currently 10.00%.

Institutional Investors Weigh In On Southern States Bancshares

A number of institutional investors have recently added to or reduced their stakes in SSBK. Rhumbline Advisers raised 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 last quarter. Kennedy Capital Management LLC raised its position in shares of Southern States Bancshares by 3.7% during the first quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after acquiring an additional 886 shares during the last quarter. AJOVista LLC acquired a new position in shares of Southern States Bancshares in the fourth quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its holdings in 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 valued at $54,000 after acquiring an additional 1,085 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Southern States Bancshares by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock valued at $9,066,000 after purchasing an additional 2,782 shares during the period. 58.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $36.00 price objective (up previously from $35.00) on shares of Southern States Bancshares in a research report on Tuesday, July 23rd.

Southern States Bancshares Company 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.