Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Acquired by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC increased its stake in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 62,123 shares of the company’s stock after purchasing an additional 355 shares during the period. Bridgeway Capital Management LLC’s holdings in Southern States Bancshares were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Southern States Bancshares by 206.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company’s stock worth $672,000 after acquiring an additional 14,740 shares during the period. Empowered Funds LLC lifted its position in Southern States Bancshares by 5.2% in the fourth quarter. Empowered Funds LLC now owns 7,123 shares of the company’s stock valued at $237,000 after purchasing an additional 355 shares during the period. Barclays PLC boosted its holdings in Southern States Bancshares by 292.5% in the 3rd quarter. Barclays PLC now owns 11,818 shares of the company’s stock valued at $363,000 after purchasing an additional 8,807 shares in the last quarter. Marietta Wealth Management LLC acquired a new position in Southern States Bancshares during the 4th quarter worth approximately $977,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Southern States Bancshares by 3,572.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,418 shares of the company’s stock worth $247,000 after buying an additional 7,216 shares in the last quarter. 58.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered Southern States Bancshares from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd.

Southern States Bancshares Stock Down 0.6 %

Shares of NASDAQ SSBK opened at $35.33 on Friday. The stock has a market capitalization of $350.58 million, a price-to-earnings ratio of 9.63 and a beta of 0.28. Southern States Bancshares, Inc. has a 52 week low of $24.86 and a 52 week high of $39.16. The firm has a 50-day moving average price of $32.76 and a 200 day moving average price of $33.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings results on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $26.51 million during the quarter, compared to the consensus estimate of $26.80 million. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%.

Southern States Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Thursday, May 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, May 1st. Southern States Bancshares’s dividend payout ratio (DPR) is 9.47%.

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.