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

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.09 per share on Friday, February 14th. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%.

Southern States Bancshares has increased its dividend payment by an average of 58.7% annually over the last three years. Southern States Bancshares has a dividend payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Performance

Shares of SSBK traded up $0.94 during mid-day trading on Wednesday, hitting $34.32. The stock had a trading volume of 7,896 shares, compared to its average volume of 23,429. Southern States Bancshares has a fifty-two week low of $22.13 and a fifty-two week high of $39.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. The company has a market cap of $339.25 million, a PE ratio of 9.67 and a beta of 0.34. The company’s fifty day simple moving average is $35.16 and its two-hundred day simple moving average is $31.92.

Southern States Bancshares (NASDAQ:SSBK) last released its quarterly earnings data on Monday, October 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). The business had revenue of $46.83 million during the quarter. Southern States Bancshares had a return on equity of 14.11% and a net margin of 19.33%.

Analysts Set New Price Targets

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