Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,689 shares of the company’s stock after buying an additional 2,592 shares during the quarter. Bank of New York Mellon Corp owned about 0.37% of Southern States Bancshares worth $1,222,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Southern States Bancshares during the fourth quarter worth about $115,000. Empowered Funds LLC bought a new position in Southern States Bancshares in the 3rd quarter worth about $208,000. Quadrature Capital Ltd acquired a new stake in shares of Southern States Bancshares in the third quarter valued at approximately $221,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Southern States Bancshares by 3,572.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the company’s stock valued at $247,000 after buying an additional 7,216 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Southern States Bancshares by 3.9% in the 4th quarter. Rhumbline Advisers now owns 8,779 shares of the company’s stock valued at $292,000 after acquiring an additional 328 shares during the period. 58.73% of the stock is currently owned by institutional investors.

Southern States Bancshares Trading Down 0.6 %

Shares of SSBK stock opened at $32.36 on Tuesday. The firm has a market capitalization of $321.08 million, a PE ratio of 8.82 and a beta of 0.34. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. Southern States Bancshares, Inc. has a 1 year low of $22.13 and a 1 year high of $39.16. The stock has a fifty day moving average of $32.68 and a two-hundred day moving average of $32.87.

Southern States Bancshares (NASDAQ:SSBK) last announced its earnings results on Tuesday, January 21st. The company reported $1.04 earnings per share (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 company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a dividend of $0.09 per share. The ex-dividend date was Monday, February 3rd. This represents a $0.36 annualized dividend and a yield of 1.11%. Southern States Bancshares’s payout ratio is 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.