JPMorgan Chase & Co. Has $672,000 Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

JPMorgan Chase & Co. raised its position in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 206.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,883 shares of the company’s stock after buying an additional 14,740 shares during the period. JPMorgan Chase & Co. owned 0.22% of Southern States Bancshares worth $672,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SSBK. Barclays PLC boosted its holdings in Southern States Bancshares by 292.5% during the third quarter. Barclays PLC now owns 11,818 shares of the company’s stock worth $363,000 after purchasing an additional 8,807 shares during the last quarter. Geode Capital Management LLC increased its holdings in Southern States Bancshares by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock valued at $5,288,000 after buying an additional 2,717 shares during the period. State Street Corp boosted 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in Southern States Bancshares during the 3rd quarter worth approximately $221,000. Finally, Martingale Asset Management L P boosted its position in Southern States Bancshares by 17.5% during 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 period. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Southern States Bancshares Stock Performance

NASDAQ:SSBK opened at $32.95 on Tuesday. The firm has a market cap of $325.71 million, a PE ratio of 8.98 and a beta of 0.34. Southern States Bancshares, Inc. has a fifty-two week low of $22.13 and a fifty-two week 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 business has a 50 day moving average price of $34.75 and a 200-day moving average price of $32.30.

Southern States Bancshares (NASDAQ:SSBK) last posted its earnings results on Tuesday, January 21st. The company reported $1.04 EPS for the quarter. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%.

Southern States Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, February 3rd. This represents a $0.36 annualized dividend and a yield of 1.09%. Southern States Bancshares’s payout ratio is currently 9.81%.

Wall Street Analyst Weigh In

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

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.