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

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced a quarterly dividend on Wednesday, January 15th,RTT News reports. Investors of record on Monday, February 3rd will be paid a dividend of 0.09 per share on Friday, February 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Monday, February 3rd.

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

Southern States Bancshares Stock Down 2.8 %

Shares of SSBK opened at $33.42 on Friday. The company has a market capitalization of $330.19 million, a PE ratio of 9.41 and a beta of 0.34. The stock’s 50-day moving average price is $35.05 and its two-hundred day moving average price is $31.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares has a 12 month low of $22.13 and a 12 month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last posted its quarterly earnings data 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 return on equity of 14.11% and a net margin of 19.33%. The firm had revenue of $46.83 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lowered their price objective on shares of Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd.

Southern States Bancshares Company 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.