Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 54.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,426 shares of the company’s stock after purchasing an additional 11,789 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.34% of Southern States Bancshares worth $1,113,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Southern States Bancshares by 3.9% during the 4th quarter. Rhumbline Advisers now owns 8,779 shares of the company’s stock worth $292,000 after purchasing an additional 328 shares during the period. Empowered Funds LLC boosted its stake in shares of Southern States Bancshares by 5.2% during the 4th quarter. Empowered Funds LLC now owns 7,123 shares of the company’s stock worth $237,000 after purchasing an additional 355 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Southern States Bancshares by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 36,689 shares of the company’s stock worth $1,222,000 after purchasing an additional 2,592 shares during the period. Geode Capital Management LLC boosted its stake in shares of Southern States Bancshares by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 172,073 shares of the company’s stock worth $5,288,000 after purchasing an additional 2,717 shares during the period. Finally, Martingale Asset Management L P boosted its stake in shares of Southern States Bancshares by 17.5% during the 3rd quarter. Martingale Asset Management L P now owns 18,900 shares of the company’s stock worth $581,000 after purchasing an additional 2,812 shares during the period. 58.73% of the stock is owned by hedge funds and other institutional investors.

Southern States Bancshares Price Performance

Southern States Bancshares stock opened at $32.30 on Friday. The stock has a market cap of $319.29 million, a price-to-earnings ratio of 8.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02. Southern States Bancshares, Inc. has a 1 year low of $22.13 and a 1 year high of $39.16. The firm has a 50-day moving average of $32.67 and a two-hundred day moving average of $32.83.

Southern States Bancshares (NASDAQ:SSBK) last released 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.36 annualized dividend and a yield of 1.11%. Southern States Bancshares’s dividend payout ratio (DPR) is 9.81%.

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.