Curi RMB Capital LLC Sells 5,000 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Curi RMB Capital LLC decreased its stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 4.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 120,000 shares of the company’s stock after selling 5,000 shares during the period. Curi RMB Capital LLC’s holdings in Southern States Bancshares were worth $3,688,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in Southern States Bancshares by 7.0% in the second quarter. Rhumbline Advisers now owns 8,958 shares of the company’s stock valued at $243,000 after acquiring an additional 586 shares during the last quarter. Kennedy Capital Management LLC lifted its position in shares of Southern States Bancshares by 3.7% in the 1st quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after purchasing an additional 886 shares during the period. Vanguard Group Inc. boosted its stake in shares of Southern States Bancshares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock valued at $9,066,000 after purchasing an additional 2,782 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Southern States Bancshares by 10.2% during the second quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock worth $1,087,000 after buying an additional 3,708 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Southern States Bancshares during the third quarter worth $276,000. 58.73% of the stock is currently owned by institutional investors.

Southern States Bancshares Stock Performance

Shares of SSBK stock opened at $36.57 on Friday. The firm has a 50 day moving average of $31.15 and a 200-day moving average of $29.14. The company has a market cap of $326.20 million, a price-to-earnings ratio of 10.30 and a beta of 0.21. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Southern States Bancshares, Inc. has a 52 week low of $22.13 and a 52 week high of $37.86.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings results on Monday, October 21st. The company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.07). Southern States Bancshares had a return on equity of 14.88% and a net margin of 19.33%. The company had revenue of $46.83 million during the quarter.

Southern States Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.98%. Southern States Bancshares’s dividend payout ratio is presently 10.14%.

Analyst Upgrades and Downgrades

A number of analysts have commented on SSBK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $35.00) on shares of Southern States Bancshares in a research report on Tuesday, July 23rd. Hovde Group cut their target price on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd.

Insider Activity at Southern States Bancshares

In other Southern States Bancshares news, Director Jay F. Pumroy sold 2,995 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $32.13, for a total transaction of $96,229.35. Following the completion of the sale, the director now owns 100,774 shares in the company, valued at approximately $3,237,868.62. The trade was a 2.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brent O. Hitson sold 2,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $31.17, for a total transaction of $62,340.00. Following the transaction, the director now owns 21,753 shares in the company, valued at approximately $678,041.01. The trade was a 8.42 % decrease in their position. The disclosure for this sale can be found here. 14.80% of the stock is currently owned by corporate insiders.

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.