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

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Investors of record on Wednesday, July 31st will be paid a dividend of 0.09 per share on Monday, August 12th. This represents a $0.36 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, July 31st.

Southern States Bancshares has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Price Performance

Shares of NASDAQ:SSBK opened at $31.85 on Tuesday. The company’s fifty day moving average price is $27.36 and its 200 day moving average price is $26.18. Southern States Bancshares has a 12 month low of $21.70 and a 12 month high of $34.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $283.78 million, a P/E ratio of 8.85 and a beta of 0.22.

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

Insider Buying and Selling at Southern States Bancshares

In other Southern States Bancshares news, CFO Lynn J. Joyce sold 1,000 shares of Southern States Bancshares stock in a transaction on Friday, July 26th. The shares were sold at an average price of $34.25, for a total value of $34,250.00. Following the transaction, the chief financial officer now directly owns 43,188 shares in the company, valued at $1,479,189. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Southern States Bancshares news, CFO Lynn J. Joyce sold 1,000 shares of Southern States Bancshares stock in a transaction on Friday, July 26th. The shares were sold at an average price of $34.25, for a total value of $34,250.00. Following the transaction, the chief financial officer now directly owns 43,188 shares in the company, valued at $1,479,189. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Lynn J. Joyce sold 2,000 shares of Southern States Bancshares stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $32.15, for a total transaction of $64,300.00. Following the completion of the transaction, the chief financial officer now owns 44,188 shares in the company, valued at $1,420,644.20. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $36.00 price objective (up from $35.00) on shares of Southern States Bancshares in a research note on Tuesday, July 23rd.

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.