Southern States Bancshares (NASDAQ:SSBK) Posts Earnings Results

Southern States Bancshares (NASDAQ:SSBK) issued its quarterly earnings data on Tuesday. The company reported $1.04 earnings per share (EPS) for the quarter, Zacks reports. Southern States Bancshares had a return on equity of 14.11% and a net margin of 19.33%.

Southern States Bancshares Price Performance

Shares of Southern States Bancshares stock opened at $34.11 on Tuesday. The business’s 50-day moving average price is $34.99 and its 200-day moving average price is $32.11. The firm has a market capitalization of $337.01 million, a PE ratio of 9.61 and a beta of 0.34. Southern States Bancshares has a 12 month low of $22.13 and a 12 month high of $39.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

Southern States Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, February 3rd. Southern States Bancshares’s payout ratio is currently 10.14%.

Analyst Ratings Changes

Separately, Hovde Group cut their price objective on 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.