Southern States Bancshares, Inc. (NASDAQ:SSBK) Director Jay F. Pumroy Sells 2,995 Shares of Stock

Southern States Bancshares, Inc. (NASDAQ:SSBK) 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 transaction, the director now owns 100,774 shares of the company’s stock, valued at approximately $3,237,868.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Southern States Bancshares Stock Down 1.6 %

SSBK opened at $31.50 on Wednesday. The company has a 50 day moving average of $29.10 and a 200 day moving average of $26.67. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.66. Southern States Bancshares, Inc. has a 12 month low of $21.70 and a 12 month high of $34.72. The company has a market cap of $280.60 million, a PE ratio of 8.75 and a beta of 0.23.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Monday, July 22nd. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.11. The company had revenue of $42.38 million during the quarter. Southern States Bancshares had a return on equity of 15.96% and a net margin of 20.68%.

Southern States Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Wednesday, July 31st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, July 31st. Southern States Bancshares’s dividend payout ratio is presently 10.00%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $36.00 target price (up previously from $35.00) on shares of Southern States Bancshares in a research report on Tuesday, July 23rd.

Institutional Investors Weigh In On Southern States Bancshares

Several large investors have recently added to or reduced their stakes in SSBK. Squarepoint Ops LLC purchased a new position in shares of Southern States Bancshares during the second quarter worth about $257,000. Dimensional Fund Advisors LP lifted its position in 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 last quarter. Acadian Asset Management LLC purchased a new position in Southern States Bancshares in the 2nd quarter worth approximately $245,000. Rhumbline Advisers grew its stake in Southern States Bancshares by 7.0% in the 2nd quarter. Rhumbline Advisers now owns 8,958 shares of the company’s stock worth $243,000 after buying an additional 586 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Southern States Bancshares by 10.2% in the 2nd 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. Institutional investors own 58.73% of the company’s stock.

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.