Barclays PLC Grows Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Barclays PLC raised its stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 292.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,818 shares of the company’s stock after purchasing an additional 8,807 shares during the quarter. Barclays PLC owned 0.13% of Southern States Bancshares worth $363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Southern States Bancshares in the 3rd quarter valued at approximately $276,000. Los Angeles Capital Management LLC purchased a new position in shares of Southern States Bancshares in the 3rd quarter valued at approximately $471,000. Empowered Funds LLC purchased a new position in shares of Southern States Bancshares in the 3rd quarter valued at approximately $208,000. Dimensional Fund Advisors LP grew its stake in shares of Southern States Bancshares by 22.4% in the 2nd 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. Finally, State Street Corp grew its stake 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 purchasing an additional 2,902 shares during the last quarter. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Southern States Bancshares Stock Down 0.5 %

SSBK opened at $32.40 on Friday. The business’s fifty day moving average is $35.08 and its two-hundred day moving average is $31.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $320.27 million, a price-to-earnings ratio of 9.13 and a beta of 0.30. Southern States Bancshares, Inc. has a one year low of $22.13 and a one year high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last posted its earnings results on Monday, October 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). The firm had revenue of $46.83 million for the quarter. Southern States Bancshares had a return on equity of 14.11% and a net margin of 19.33%.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.36 dividend on an annualized basis and a yield of 1.11%. Southern States Bancshares’s payout ratio is 10.14%.

Analyst Ratings Changes

Separately, Hovde Group lowered their target price on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd.

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.