Insider Selling: Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Sells 2,995 Shares of Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Jay F. Pumroy sold 2,995 shares of Southern States Bancshares stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $32.13, for a total value of $96,229.35. Following the sale, the director now owns 100,774 shares of the company’s stock, valued at $3,237,868.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Southern States Bancshares Stock Performance

NASDAQ SSBK traded down $0.28 during trading on Tuesday, hitting $31.72. The company’s stock had a trading volume of 2,417 shares, compared to its average volume of 17,061. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $28.98 and a 200 day moving average price of $26.64. The firm has a market cap of $282.56 million, a P/E ratio of 8.89 and a beta of 0.23. Southern States Bancshares, Inc. has a 52 week low of $21.70 and a 52 week high of $34.72.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Monday, July 22nd. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.89 by $0.11. The business had revenue of $42.38 million for the quarter. Southern States Bancshares had a return on equity of 15.96% and a net margin of 20.68%.

Southern States Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Wednesday, July 31st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, July 31st. Southern States Bancshares’s dividend payout ratio (DPR) is presently 10.00%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Southern States Bancshares

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in shares of Southern States Bancshares during the second quarter valued at $257,000. Dimensional Fund Advisors LP increased its holdings in Southern States Bancshares by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company’s stock valued at $1,371,000 after purchasing an additional 9,244 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Southern States Bancshares in the second quarter valued at about $245,000. Rhumbline Advisers increased its holdings in Southern States Bancshares by 7.0% in the second quarter. Rhumbline Advisers now owns 8,958 shares of the company’s stock valued at $243,000 after purchasing an additional 586 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Southern States Bancshares by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock valued at $1,087,000 after purchasing an additional 3,708 shares during the last quarter. Institutional investors and hedge funds own 58.73% of the company’s stock.

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.