Southern States Bancshares (NASDAQ:SSBK) Posts Quarterly Earnings Results

Southern States Bancshares (NASDAQ:SSBK) announced its earnings results on Tuesday. The company reported $1.04 earnings per share for the quarter, Zacks reports. Southern States Bancshares had a return on equity of 14.11% and a net margin of 19.33%.

Southern States Bancshares Trading Up 1.5 %

Shares of SSBK opened at $34.63 on Wednesday. The stock’s 50-day moving average price is $34.99 and its 200 day moving average price is $32.11. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares has a 12-month low of $22.13 and a 12-month high of $39.16. The firm has a market capitalization of $342.14 million, a price-to-earnings ratio of 9.75 and a beta of 0.34.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Monday, February 3rd. Southern States Bancshares’s dividend payout ratio (DPR) is presently 10.14%.

Analysts Set New Price Targets

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

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.