Northern Trust Corp Sells 320 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Northern Trust Corp lowered its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,846 shares of the company’s stock after selling 320 shares during the period. Northern Trust Corp owned 0.66% of Southern States Bancshares worth $2,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Southern States Bancshares by 235.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,455 shares of the company’s stock valued at $48,000 after buying an additional 1,021 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Southern States Bancshares by 23.1% in the fourth 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 last quarter. Fourthstone LLC bought a new position in shares of Southern States Bancshares in the 4th quarter valued at about $349,000. EAM Investors LLC acquired a new position in shares of Southern States Bancshares during the 4th quarter worth about $671,000. Finally, Barclays PLC raised its holdings in shares of Southern States Bancshares by 13.5% in the 4th quarter. Barclays PLC now owns 13,408 shares of the company’s stock valued at $446,000 after purchasing an additional 1,590 shares during the period. Institutional investors own 58.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut Southern States Bancshares from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd.

Southern States Bancshares Stock Performance

Shares of NASDAQ SSBK opened at $34.45 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $342.02 million, a P/E ratio of 9.39 and a beta of 0.28. Southern States Bancshares, Inc. has a 12 month low of $24.86 and a 12 month high of $39.16. The stock has a 50 day moving average of $33.56 and a 200-day moving average of $33.80.

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

Southern States Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Thursday, May 1st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, May 1st. Southern States Bancshares’s dividend payout ratio is presently 9.47%.

Southern States Bancshares Company Profile

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.