Southern States Bancshares (NASDAQ:SSBK) Issues Quarterly Earnings Results

Southern States Bancshares (NASDAQ:SSBK) posted its quarterly earnings results on Tuesday. The company reported $1.04 earnings per share (EPS) for the quarter, Zacks reports. Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%.

Southern States Bancshares Stock Performance

Southern States Bancshares stock opened at $34.11 on Tuesday. Southern States Bancshares has a 1-year low of $22.13 and a 1-year high of $39.16. The firm has a market cap of $337.01 million, a P/E ratio of 9.61 and a beta of 0.34. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average of $34.99 and a 200-day moving average of $32.11.

Southern States Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Monday, February 3rd. Southern States Bancshares’s dividend payout ratio (DPR) is presently 10.14%.

Analyst Ratings Changes

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