Marietta Wealth Management LLC Cuts Stake in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Marietta Wealth Management LLC reduced its position in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 5.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 27,775 shares of the company’s stock after selling 1,550 shares during the period. Marietta Wealth Management LLC’s holdings in Southern States Bancshares were worth $993,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SSBK. Castalian Partners LLC purchased a new position in Southern States Bancshares in the fourth quarter worth $3,521,000. Private Capital Management LLC purchased a new stake in shares of Southern States Bancshares during the fourth quarter valued at $1,276,000. EAM Investors LLC purchased a new stake in shares of Southern States Bancshares during the fourth quarter valued at $671,000. Dimensional Fund Advisors LP grew its holdings in shares of Southern States Bancshares by 23.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 74,176 shares of the company’s stock valued at $2,471,000 after buying an additional 13,925 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Southern States Bancshares during the fourth quarter valued at $452,000. 58.73% of the stock is owned by hedge funds and other institutional investors.

Southern States Bancshares Price Performance

Shares of SSBK opened at $34.34 on Friday. The firm has a market capitalization of $341.00 million, a PE ratio of 9.04 and a beta of 0.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.02 and a quick ratio of 1.02. Southern States Bancshares, Inc. has a 1-year low of $25.08 and a 1-year high of $39.16. The company’s fifty day moving average price is $34.23 and its 200-day moving average price is $33.53.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings data on Monday, April 21st. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $26.51 million for the quarter, compared to analyst estimates of $26.80 million. Southern States Bancshares had a net margin of 20.39% and a return on equity of 14.38%.

Southern States Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Thursday, May 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, May 1st. Southern States Bancshares’s dividend payout ratio (DPR) is presently 9.47%.

Analysts Set New Price Targets

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

Southern States Bancshares Company Profile

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.