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 company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $32.15, for a total value of $64,300.00. Following 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 SEC, which is available through this link.

Southern States Bancshares Stock Performance

NASDAQ:SSBK opened at $33.00 on Friday. The stock’s fifty day moving average is $27.27 and its 200 day moving average is $26.16. Southern States Bancshares, Inc. has a fifty-two week low of $21.70 and a fifty-two week high of $34.72. The firm has a market capitalization of $294.03 million, a PE ratio of 9.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04.

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

Southern States Bancshares Announces Dividend

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

Institutional Trading of Southern States Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in SSBK. AJOVista LLC bought a new stake in shares of Southern States Bancshares during the fourth quarter worth $31,000. Tower Research Capital LLC TRC lifted its position in shares of Southern States Bancshares by 141.6% during 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. SG Americas Securities LLC bought a new stake in shares of Southern States Bancshares during the fourth quarter worth $121,000. Kennedy Capital Management LLC lifted 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 purchasing an additional 886 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Southern States Bancshares by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock worth $1,087,000 after purchasing an additional 3,708 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $36.00 price objective (up from $35.00) on shares of Southern States Bancshares in a 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.