Tabor Asset Management LP Purchases New Holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Tabor Asset Management LP acquired a new stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) during the 1st quarter, Holdings Channel reports. The fund acquired 20,000 shares of the company’s stock, valued at approximately $715,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Southern States Bancshares by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 177,922 shares of the company’s stock valued at $5,927,000 after purchasing an additional 5,849 shares during the last quarter. Castalian Partners LLC bought a new stake in Southern States Bancshares in the fourth quarter worth about $3,521,000. Kennedy Capital Management LLC increased its stake in shares of Southern States Bancshares by 10.1% in the fourth quarter. Kennedy Capital Management LLC now owns 96,850 shares of the company’s stock worth $3,226,000 after purchasing an additional 8,863 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Southern States Bancshares by 23.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 74,176 shares of the company’s stock worth $2,471,000 after acquiring an additional 13,925 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in Southern States Bancshares by 0.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 62,123 shares of the company’s stock worth $2,069,000 after buying an additional 355 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Southern States Bancshares Price Performance

SSBK stock remained flat at $36.37 during midday trading on Monday. Southern States Bancshares, Inc. has a 12 month low of $27.70 and a 12 month high of $39.16. The company has a market cap of $361.15 million, a P/E ratio of 9.57 and a beta of 0.29. The company has a fifty day moving average price of $35.46 and a two-hundred day moving average price of $33.72. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.38.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Monday, April 21st. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The firm 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 20.39% and a return on equity of 14.38%.

Analyst Upgrades and Downgrades

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.

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.