Southern States Bancshares, Inc. (SSBK) To Go Ex-Dividend on May 1st

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, April 16th, RTT News reports. Stockholders of record on Thursday, May 1st will be paid a dividend of 0.09 per share on Monday, May 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, May 1st.

Southern States Bancshares has increased its dividend by an average of 58.7% annually over the last three years. Southern States Bancshares has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings.

Southern States Bancshares Stock Up 1.6 %

Shares of NASDAQ SSBK opened at $33.42 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $32.30 and a 200 day moving average price of $33.35. The firm has a market capitalization of $331.63 million, a price-to-earnings ratio of 9.11 and a beta of 0.27. Southern States Bancshares has a 52-week low of $23.67 and a 52-week high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last released its earnings results on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. Southern States Bancshares had a return on equity of 15.04% and a net margin of 19.68%. The firm had revenue of $26.51 million for the quarter, compared to the consensus estimate of $26.80 million.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut Southern States Bancshares from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 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.