Southern States Bancshares, Inc. (NASDAQ:SSBK) Announces $0.09 Quarterly Dividend

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.09 per share on Monday, August 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, July 31st.

Southern States Bancshares has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Down 3.5 %

SSBK stock opened at $31.85 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.66. Southern States Bancshares has a fifty-two week low of $21.70 and a fifty-two week high of $34.72. The firm’s 50-day simple moving average is $27.36 and its 200 day simple moving average is $26.18. The stock has a market cap of $283.78 million, a PE ratio of 8.85 and a beta of 0.22.

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $36.00 target price (up previously from $35.00) on shares of Southern States Bancshares in a research note on Tuesday, July 23rd.

Insider Buying and Selling at Southern States Bancshares

In other Southern States Bancshares news, CFO Lynn J. Joyce sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $34.25, for a total transaction of $34,250.00. Following the transaction, the chief financial officer now owns 43,188 shares of the company’s stock, valued at approximately $1,479,189. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Lynn J. Joyce sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $32.15, for a total transaction of $64,300.00. Following the completion of the transaction, the chief financial officer now owns 44,188 shares in the company, valued at approximately $1,420,644.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Lynn J. Joyce sold 1,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $34.25, for a total transaction of $34,250.00. Following the transaction, the chief financial officer now owns 43,188 shares of the company’s stock, valued at approximately $1,479,189. The disclosure for this sale can be found here. 14.80% of the stock is owned by corporate insiders.

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.