Southern States Bancshares, Inc. (NASDAQ:SSBK) CFO Sells $34,250.00 in Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) CFO Lynn J. Joyce sold 1,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $34.25, for a total value of $34,250.00. Following the transaction, the chief financial officer now directly owns 43,188 shares of the company’s stock, valued at $1,479,189. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Southern States Bancshares Stock Performance

NASDAQ:SSBK opened at $32.72 on Thursday. Southern States Bancshares, Inc. has a 12 month low of $21.70 and a 12 month high of $34.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $291.54 million, a PE ratio of 9.09 and a beta of 0.22. The business’s fifty day moving average price is $27.60 and its 200 day moving average price is $26.26.

Southern States Bancshares (NASDAQ:SSBK) last released its quarterly earnings data on Monday, July 22nd. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $42.38 million for the quarter.

Southern States Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.10%. Southern States Bancshares’s payout ratio is currently 10.00%.

Institutional Trading of Southern States Bancshares

Institutional investors have recently modified their holdings of the stock. AJOVista LLC purchased a new position in shares of Southern States Bancshares in the 4th quarter valued at $31,000. Tower Research Capital LLC TRC boosted its stake 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Southern States Bancshares during the fourth quarter worth about $121,000. Kennedy Capital Management LLC grew its holdings 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 increased 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 in the last quarter. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $36.00 price target (up previously 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.