Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Sold by Banc Funds Co. LLC

Banc Funds Co. LLC decreased its holdings in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 717,213 shares of the company’s stock after selling 25,440 shares during the period. Southern States Bancshares accounts for about 2.4% of Banc Funds Co. LLC’s holdings, making the stock its 4th biggest holding. Banc Funds Co. LLC owned about 0.08% of Southern States Bancshares worth $22,040,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SSBK. Empowered Funds LLC acquired a new position in Southern States Bancshares during the third quarter worth $208,000. OneAscent Wealth Management LLC purchased a new stake in shares of Southern States Bancshares during the third quarter worth about $236,000. Rhumbline Advisers raised its position in shares of 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. Acadian Asset Management LLC purchased a new position in Southern States Bancshares in the 2nd quarter valued at about $245,000. Finally, Squarepoint Ops LLC acquired a new stake in Southern States Bancshares in the 2nd quarter worth about $257,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Southern States Bancshares Trading Down 0.5 %

Shares of SSBK opened at $37.22 on Monday. Southern States Bancshares, Inc. has a 52-week low of $22.13 and a 52-week high of $39.16. The stock has a market cap of $367.73 million, a PE ratio of 10.48 and a beta of 0.21. The firm’s fifty day moving average is $32.69 and its two-hundred day moving average is $30.08. 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 (NASDAQ:SSBK) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.07). Southern States Bancshares had a return on equity of 14.11% and a net margin of 19.33%. The business had revenue of $46.83 million during the quarter.

Southern States Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, November 1st. Southern States Bancshares’s dividend payout ratio is currently 10.14%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group reduced their target price on 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 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.