Southern States Bancshares, Inc. Declares Quarterly Dividend of $0.09 (NASDAQ:SSBK)

Southern States Bancshares, Inc. (NASDAQ:SSBK) declared a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Monday, February 3rd will be given a dividend of 0.09 per share on Friday, February 14th. This represents a $0.36 annualized dividend and a yield of 1.05%.

Southern States Bancshares has increased its dividend payment by an average of 58.7% annually over the last three years. Southern States Bancshares has a dividend payout ratio of 8.5% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Performance

NASDAQ:SSBK opened at $34.40 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. Southern States Bancshares has a fifty-two week low of $22.13 and a fifty-two week high of $39.16. The firm has a market cap of $339.87 million, a PE ratio of 9.69 and a beta of 0.34. The business has a 50 day moving average price of $35.10 and a 200-day moving average price of $31.93.

Southern States Bancshares (NASDAQ:SSBK) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.07). Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%. The firm had revenue of $46.83 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Hovde Group cut their target price 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.