Southern States Bancshares, Inc. Declares Quarterly Dividend of $0.09 (NASDAQ:SSBK)

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 0.09 per share on Friday, February 14th. This represents a $0.36 annualized dividend and a yield of 1.05%.

Southern States Bancshares has raised its dividend by an average of 58.7% annually over the last three years. Southern States Bancshares has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Up 3.1 %

NASDAQ:SSBK opened at $34.40 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average price is $35.10 and its 200-day moving average price is $31.93. The company has a market capitalization of $339.87 million, a PE ratio of 9.69 and a beta of 0.34. Southern States Bancshares has a 1-year low of $22.13 and a 1-year high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings data 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 business had revenue of $46.83 million during the quarter.

Wall Street Analyst Weigh In

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

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.