Southern States Bancshares, Inc. (NASDAQ:SSBK) Short Interest Update

Southern States Bancshares, Inc. (NASDAQ:SSBK) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 37,800 shares, a decline of 16.2% from the October 31st total of 45,100 shares. Based on an average trading volume of 18,900 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.5% of the company’s stock are sold short.

Southern States Bancshares Stock Down 0.5 %

Shares of NASDAQ:SSBK opened at $37.22 on Monday. Southern States Bancshares has a 12-month low of $22.13 and a 12-month high of $39.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a market cap of $367.73 million, a PE ratio of 10.48 and a beta of 0.21. The company has a fifty day simple moving average of $32.69 and a 200 day simple moving average of $30.08.

Southern States Bancshares (NASDAQ:SSBK) last released its 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 company had revenue of $46.83 million during the quarter.

Southern States Bancshares Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Hovde Group reduced their price target 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.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SSBK. 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 valued at $243,000 after acquiring an additional 586 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Southern States Bancshares by 1.6% during the third quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock worth $5,288,000 after purchasing an additional 2,717 shares during the period. Vanguard Group Inc. raised its holdings in shares of Southern States Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock worth $9,066,000 after purchasing an additional 2,782 shares during the period. Martingale Asset Management L P lifted its position in shares of Southern States Bancshares by 17.5% in the 3rd quarter. Martingale Asset Management L P now owns 18,900 shares of the company’s stock worth $581,000 after buying an additional 2,812 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Southern States Bancshares by 3.2% in the 3rd quarter. State Street Corp now owns 94,195 shares of the company’s stock valued at $2,895,000 after buying an additional 2,902 shares during the period. Institutional investors 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.