Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 235.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,455 shares of the company’s stock after acquiring an additional 1,021 shares during the period. Tower Research Capital LLC TRC’s holdings in Southern States Bancshares were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Southern States Bancshares by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 177,922 shares of the company’s stock worth $5,927,000 after purchasing an additional 5,849 shares during the period. Kennedy Capital Management LLC grew its stake in Southern States Bancshares by 10.1% in the 4th quarter. Kennedy Capital Management LLC now owns 96,850 shares of the company’s stock valued at $3,226,000 after acquiring an additional 8,863 shares during the period. Dimensional Fund Advisors LP grew its stake in Southern States Bancshares by 23.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 74,176 shares of the company’s stock valued at $2,471,000 after acquiring an additional 13,925 shares during the period. Keystone Financial Group Inc. acquired a new stake in Southern States Bancshares in the 4th quarter valued at $1,994,000. Finally, Bank of New York Mellon Corp grew its stake in Southern States Bancshares by 7.6% in the 4th quarter. Bank of New York Mellon Corp now owns 36,689 shares of the company’s stock valued at $1,222,000 after acquiring an additional 2,592 shares during the period. Institutional investors and hedge funds own 58.73% of the company’s stock.

Southern States Bancshares Price Performance

Southern States Bancshares stock opened at $36.23 on Tuesday. The company’s fifty day moving average price is $32.86 and its 200 day moving average price is $33.61. Southern States Bancshares, Inc. has a 1 year low of $24.86 and a 1 year high of $39.16. The stock has a market capitalization of $359.55 million, a P/E ratio of 9.87 and a beta of 0.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02.

Southern States Bancshares (NASDAQ:SSBK) last released its quarterly earnings results on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%. The firm had revenue of $26.51 million for the quarter, compared to analysts’ expectations of $26.80 million.

Southern States Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Thursday, May 1st were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, May 1st. This represents a $0.36 annualized dividend and a yield of 0.99%. Southern States Bancshares’s dividend payout ratio (DPR) is presently 9.47%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut shares of Southern States Bancshares from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 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.