Welch Group LLC Sells 5,000 Shares of Southern States Bancshares, Inc. (NASDAQ:SSBK)

Welch Group LLC lowered its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 44.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,182 shares of the company’s stock after selling 5,000 shares during the period. Welch Group LLC owned about 0.06% of Southern States Bancshares worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSBK. Marietta Wealth Management LLC bought a new position in shares of Southern States Bancshares in the 4th quarter valued at about $977,000. RFG Advisory LLC bought a new position in Southern States Bancshares in the fourth quarter valued at approximately $334,000. SG Americas Securities LLC acquired a new position in shares of Southern States Bancshares during the 4th quarter worth approximately $115,000. JPMorgan Chase & Co. boosted its holdings in shares of Southern States Bancshares by 206.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,883 shares of the company’s stock valued at $672,000 after buying an additional 14,740 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Southern States Bancshares by 292.5% in the third quarter. Barclays PLC now owns 11,818 shares of the company’s stock valued at $363,000 after buying an additional 8,807 shares in the last quarter. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Hovde Group dropped their price target on shares of 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 Price Performance

Shares of NASDAQ SSBK opened at $32.88 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average price is $34.33 and its two-hundred day moving average price is $32.48. The company has a market cap of $324.85 million, a PE ratio of 8.96 and a beta of 0.33. Southern States Bancshares, Inc. has a twelve month low of $22.13 and a twelve month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $1.04 earnings per share for the quarter. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%.

Southern States Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, February 3rd. Southern States Bancshares’s payout ratio is 9.81%.

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.