Southern States Bancshares (NASDAQ:SSBK) Stock Rating Lowered by Truist Financial

Southern States Bancshares (NASDAQ:SSBKGet Rating) was downgraded by equities research analysts at Truist Financial from a “buy” rating to a “hold” rating in a report released on Friday, The Fly reports. The analysts noted that the move was a valuation call.

Southern States Bancshares Price Performance

Shares of NASDAQ:SSBK opened at $26.50 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.43. Southern States Bancshares has a twelve month low of $18.90 and a twelve month high of $28.05. The stock’s 50 day moving average is $23.70 and its 200-day moving average is $22.86. The firm has a market capitalization of $230.29 million and a price-to-earnings ratio of 12.56.

Southern States Bancshares (NASDAQ:SSBKGet Rating) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.07. Southern States Bancshares had a return on equity of 10.68% and a net margin of 26.60%. Sell-side analysts forecast that Southern States Bancshares will post 2.44 EPS for the current fiscal year.

Institutional Trading of Southern States Bancshares

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Southern States Bancshares during the second quarter valued at approximately $215,000. Renaissance Technologies LLC bought a new stake in Southern States Bancshares during the 1st quarter valued at $352,000. Kennedy Capital Management Inc. boosted its position in shares of Southern States Bancshares by 5.9% in the 4th quarter. Kennedy Capital Management Inc. now owns 53,092 shares of the company’s stock worth $1,039,000 after purchasing an additional 2,964 shares in the last quarter. BHZ Capital Management LP boosted its position in shares of Southern States Bancshares by 1.6% in the 1st quarter. BHZ Capital Management LP now owns 71,100 shares of the company’s stock worth $1,640,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in Southern States Bancshares in the 4th quarter worth $2,153,000. Institutional investors own 48.78% of the company’s stock.

About Southern States Bancshares

(Get Rating)

Southern States Bancshares, Inc operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. It offers various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits.

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