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

Barclays PLC grew its holdings in shares of 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 institutional investor owned 11,818 shares of the company’s stock after buying an additional 8,807 shares during the quarter. Barclays PLC owned 0.12% of Southern States Bancshares worth $363,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SSBK. Geode Capital Management LLC raised its holdings in shares of Southern States Bancshares by 1.6% in the third quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock worth $5,288,000 after buying an additional 2,717 shares during the period. State Street Corp lifted its position in shares of Southern States Bancshares by 3.2% during the third quarter. State Street Corp now owns 94,195 shares of the company’s stock worth $2,895,000 after purchasing an additional 2,902 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Southern States Bancshares by 22.4% during 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 period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Southern States Bancshares by 88.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,637 shares of the company’s stock worth $665,000 after purchasing an additional 10,135 shares during the last quarter. Finally, Martingale Asset Management L P grew its holdings in shares of Southern States Bancshares by 17.5% in the third quarter. Martingale Asset Management L P now owns 18,900 shares of the company’s stock worth $581,000 after purchasing an additional 2,812 shares during the last quarter. 58.73% of the stock is owned by institutional investors.

Southern States Bancshares Trading Up 2.1 %

NASDAQ SSBK opened at $34.11 on Monday. Southern States Bancshares, Inc. has a one year low of $22.13 and a one year high of $39.16. 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 capitalization of $337.18 million, a price-to-earnings ratio of 9.61 and a beta of 0.34. The company’s 50-day simple moving average is $35.03 and its two-hundred day simple moving average is $32.06.

Southern States Bancshares (NASDAQ:SSBK) last posted its earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Southern States Bancshares’s dividend payout ratio is presently 10.14%.

Analyst Ratings Changes

Separately, Hovde Group dropped their price objective 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.

Southern States Bancshares 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.