Marietta Wealth Management LLC Makes New Investment in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Marietta Wealth Management LLC acquired a new position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) in the fourth quarter, Holdings Channel.com reports. The fund acquired 29,325 shares of the company’s stock, valued at approximately $977,000.

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in Southern States Bancshares during the fourth quarter valued at about $115,000. Empowered Funds LLC purchased a new position in shares of Southern States Bancshares during the 3rd quarter valued at about $208,000. Quadrature Capital Ltd bought a new stake in Southern States Bancshares in the 3rd quarter worth approximately $221,000. OneAscent Wealth Management LLC purchased a new stake in Southern States Bancshares in the third quarter worth approximately $236,000. Finally, Squarepoint Ops LLC purchased a new stake in Southern States Bancshares in the second quarter worth approximately $257,000. 58.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered 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 Price Performance

SSBK stock opened at $32.88 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $34.53 and its two-hundred day moving average price is $32.40. The stock has a market capitalization of $324.85 million, a price-to-earnings ratio of 8.96 and a beta of 0.34. Southern States Bancshares, Inc. has a 12-month low of $22.13 and a 12-month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Tuesday, January 21st. The company reported $1.04 earnings per share (EPS) for the quarter. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%.

Southern States Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, February 3rd. Southern States Bancshares’s payout ratio is 9.81%.

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.