Martingale Asset Management L P Boosts Holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Martingale Asset Management L P increased its position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) by 17.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,900 shares of the company’s stock after buying an additional 2,812 shares during the quarter. Martingale Asset Management L P’s holdings in Southern States Bancshares were worth $581,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in Southern States Bancshares during the third quarter worth $276,000. Los Angeles Capital Management LLC acquired a new stake in shares of Southern States Bancshares during the 3rd quarter worth about $471,000. Empowered Funds LLC purchased a new stake in Southern States Bancshares in the 3rd quarter valued at about $208,000. Vanguard Group Inc. boosted its stake in Southern States Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock worth $9,066,000 after buying an additional 2,782 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Southern States Bancshares by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company’s stock worth $1,371,000 after acquiring an additional 9,244 shares during the last quarter. 58.73% of the stock is currently owned by institutional investors and hedge funds.

Southern States Bancshares Stock Down 0.9 %

Shares of Southern States Bancshares stock opened at $37.09 on Wednesday. Southern States Bancshares, Inc. has a 52-week low of $22.13 and a 52-week high of $39.16. The company has a 50 day moving average of $32.96 and a 200 day moving average of $30.22. 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 company has a market capitalization of $366.45 million, a P/E ratio of 10.45 and a beta of 0.30.

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

Southern States Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, November 1st. Southern States Bancshares’s payout ratio is 10.14%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group decreased 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.

Southern States Bancshares 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.