Southern States Bancshares, Inc. (SSBK) to Issue Quarterly Dividend of $0.09 on August 12th

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, July 17th, Zacks reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.09 per share on Monday, August 12th. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, July 31st.

Southern States Bancshares has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Trading Down 1.5 %

Shares of NASDAQ SSBK opened at $33.00 on Monday. The firm has a 50 day moving average price of $27.27 and a two-hundred day moving average price of $26.15. The stock has a market cap of $294.03 million, a P/E ratio of 9.17 and a beta of 0.22. Southern States Bancshares has a 52-week low of $21.70 and a 52-week high of $34.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.04 and a current ratio of 1.04.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings data on Monday, July 22nd. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.11. The business had revenue of $42.38 million during the quarter. Southern States Bancshares had a return on equity of 15.96% and a net margin of 20.68%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $36.00 price objective (up from $35.00) on shares of Southern States Bancshares in a research report on Tuesday, July 23rd.

Insider Transactions at Southern States Bancshares

In other news, CFO Lynn J. Joyce sold 2,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $32.15, for a total transaction of $64,300.00. Following the completion of the sale, the chief financial officer now directly owns 44,188 shares in the company, valued at $1,420,644.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 14.80% of the company’s stock.

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.