Welch Group LLC Sells 5,000 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Welch Group LLC trimmed its position in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 44.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,182 shares of the company’s stock after selling 5,000 shares during the quarter. Welch Group LLC’s holdings in Southern States Bancshares were worth $207,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SSBK. Geode Capital Management LLC grew its stake in shares of Southern States Bancshares by 1.6% in the third quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock valued at $5,288,000 after acquiring an additional 2,717 shares in the last quarter. State Street Corp grew its position in shares of Southern States Bancshares by 3.2% during the 3rd quarter. State Street Corp now owns 94,195 shares of the company’s stock worth $2,895,000 after purchasing an additional 2,902 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 9,244 shares during the period. Marietta Wealth Management LLC acquired a new stake in shares of Southern States Bancshares in the fourth quarter valued at approximately $977,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Southern States Bancshares by 206.4% in the third quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company’s stock valued at $672,000 after buying an additional 14,740 shares during the period. Institutional investors own 58.73% of the company’s stock.

Southern States Bancshares Price Performance

SSBK stock opened at $32.88 on Wednesday. The company’s 50-day moving average price is $34.33 and its two-hundred day moving average price is $32.48. The firm has a market cap of $324.85 million, a P/E ratio of 8.96 and a beta of 0.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares, Inc. has a 12 month low of $22.13 and a 12 month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings data 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. Southern States Bancshares’s dividend payout ratio is currently 9.81%.

Analyst Upgrades and Downgrades

Separately, Hovde Group dropped their price objective on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating for the company in a 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.