Southern States Bancshares (NASDAQ:SSBK) Posts Earnings Results

Southern States Bancshares (NASDAQ:SSBK) released its quarterly earnings results on Tuesday. The company reported $1.04 EPS for the quarter, Zacks reports. Southern States Bancshares had a net margin of 19.68% and a return on equity of 15.04%.

Southern States Bancshares Stock Performance

NASDAQ:SSBK opened at $33.57 on Thursday. The company has a market cap of $331.67 million, a price-to-earnings ratio of 9.15 and a beta of 0.34. 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 has a 52 week low of $22.13 and a 52 week high of $39.16. The company has a fifty day simple moving average of $34.95 and a two-hundred day simple moving average of $32.17.

Southern States Bancshares Announces Dividend

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 paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.07%. Southern States Bancshares’s payout ratio is presently 9.81%.

Analyst Upgrades and Downgrades

Separately, Hovde Group reduced their target price on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 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.