GSA Capital Partners LLP Makes New Investment in Southern States Bancshares, Inc. (NASDAQ:SSBK)

GSA Capital Partners LLP purchased a new stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,971 shares of the company’s stock, valued at approximately $276,000. GSA Capital Partners LLP owned 0.10% of Southern States Bancshares at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Southern States Bancshares by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock worth $9,066,000 after purchasing an additional 2,782 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $1,371,000 after buying an additional 9,244 shares during the period. Bank of New York Mellon Corp raised its stake in Southern States Bancshares by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock worth $1,087,000 after buying an additional 3,708 shares during the last quarter. Kennedy Capital Management LLC lifted its holdings in Southern States Bancshares by 3.7% in the first quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock valued at $644,000 after buying an additional 886 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in Southern States Bancshares during the third quarter valued at $471,000. 58.73% of the stock is currently owned by institutional investors.

Insider Transactions at Southern States Bancshares

In related news, Director Jay F. Pumroy sold 2,995 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.13, for a total value of $96,229.35. Following the completion of the sale, the director now directly owns 100,774 shares of the company’s stock, valued at approximately $3,237,868.62. This represents a 2.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brent O. Hitson sold 2,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $31.17, for a total value of $62,340.00. Following the transaction, the director now owns 21,753 shares in the company, valued at approximately $678,041.01. This trade represents a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by insiders.

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 Trading Up 0.8 %

SSBK opened at $37.11 on Friday. The company has a market cap of $366.65 million, a P/E ratio of 10.45 and a beta of 0.21. The company has a fifty day moving average price of $32.02 and a two-hundred day moving average price of $29.65. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares, Inc. has a 1-year low of $22.13 and a 1-year high of $37.86.

Southern States Bancshares (NASDAQ:SSBK) last issued 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 firm had revenue of $46.83 million for the quarter.

Southern States Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, November 1st. Southern States Bancshares’s dividend payout ratio is currently 10.14%.

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.