Allspring Global Investments Holdings LLC Grows Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Allspring Global Investments Holdings LLC boosted its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 3,572.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,418 shares of the company’s stock after acquiring an additional 7,216 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Southern States Bancshares worth $247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Southern States Bancshares by 5.2% during the fourth quarter. Empowered Funds LLC now owns 7,123 shares of the company’s stock valued at $237,000 after purchasing an additional 355 shares in the last quarter. Keystone Financial Group Inc. bought a new position in Southern States Bancshares during the fourth quarter valued at approximately $1,994,000. Marietta Wealth Management LLC bought a new position in Southern States Bancshares during the fourth quarter valued at approximately $977,000. RFG Advisory LLC purchased a new position in Southern States Bancshares during the 4th quarter valued at approximately $334,000. Finally, SG Americas Securities LLC bought a new stake in Southern States Bancshares in the 4th quarter worth approximately $115,000. 58.73% of the stock is currently owned by institutional investors.

Southern States Bancshares Stock Up 2.1 %

NASDAQ SSBK opened at $32.12 on Wednesday. The stock has a 50 day moving average price of $33.15 and a 200-day moving average price of $32.65. 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 $317.35 million, a P/E ratio of 8.75 and a beta of 0.33.

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

Southern States Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.36 annualized dividend and a yield of 1.12%. Southern States Bancshares’s dividend payout ratio is currently 9.81%.

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.