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 raised its dividend payment by an average of 58.7% per year over the last three years. Southern States Bancshares has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Performance

Shares of NASDAQ:SSBK traded up $0.94 during trading hours 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 1-year low of $22.13 and a 1-year high of $39.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $339.25 million, a price-to-earnings ratio of 9.67 and a beta of 0.34. The stock’s fifty day simple moving average is $35.16 and its 200 day simple moving average is $31.92.

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

Wall Street Analysts Forecast Growth

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