Southern States Bancshares, Inc. (NASDAQ:SSBK) Announces Quarterly Dividend of $0.09

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Friday, May 3rd will be given a dividend of 0.09 per share on Thursday, May 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, May 2nd.

Southern States Bancshares has a payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings.

Southern States Bancshares Price Performance

NASDAQ SSBK opened at $25.25 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.05 and a current ratio of 1.05. Southern States Bancshares has a 52-week low of $19.61 and a 52-week high of $30.74. The business has a 50 day simple moving average of $24.87 and a 200 day simple moving average of $25.56. The stock has a market cap of $224.22 million, a price-to-earnings ratio of 7.01 and a beta of 0.14.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Southern States Bancshares from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $32.00 to $35.00 in a research note on Friday, March 15th.

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.