Southern States Bancshares (NASDAQ:SSBK) Releases Earnings Results

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

Southern States Bancshares Price Performance

SSBK stock opened at $34.11 on Tuesday. 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 $34.99 and a two-hundred day simple moving average of $32.11. The firm has a market capitalization of $337.01 million, a P/E ratio of 9.61 and a beta of 0.34.

Southern States Bancshares Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 1.06%. Southern States Bancshares’s dividend payout ratio is currently 10.14%.

Analyst Ratings Changes

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.