Bridgeway Capital Management LLC Grows Stock Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Bridgeway Capital Management LLC increased its holdings in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 62,123 shares of the company’s stock after acquiring an additional 355 shares during the period. Bridgeway Capital Management LLC owned approximately 0.63% of Southern States Bancshares worth $2,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SSBK. BNP Paribas Financial Markets purchased a new position in shares of Southern States Bancshares during the 4th quarter worth $36,000. Tower Research Capital LLC TRC boosted its stake in Southern States Bancshares by 235.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,455 shares of the company’s stock worth $48,000 after buying an additional 1,021 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Southern States Bancshares during the fourth quarter valued at about $115,000. Wells Fargo & Company MN raised its stake in shares of Southern States Bancshares by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 4,892 shares of the company’s stock valued at $163,000 after acquiring an additional 1,067 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Southern States Bancshares by 5.2% in the 4th quarter. Empowered Funds LLC now owns 7,123 shares of the company’s stock valued at $237,000 after acquiring an additional 355 shares during the period. Institutional investors and hedge funds own 58.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered Southern States Bancshares from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd.

Southern States Bancshares Stock Down 0.6 %

Shares of NASDAQ SSBK opened at $35.33 on Friday. The business has a 50-day moving average of $32.76 and a two-hundred day moving average of $33.54. The company has a market capitalization of $350.58 million, a price-to-earnings ratio of 9.63 and a beta of 0.28. Southern States Bancshares, Inc. has a 1 year low of $24.86 and a 1 year high of $39.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.02 and a quick ratio of 1.02.

Southern States Bancshares (NASDAQ:SSBK) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $26.51 million for the quarter, compared to analyst estimates of $26.80 million.

Southern States Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Thursday, May 1st will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Thursday, May 1st. Southern States Bancshares’s payout ratio is currently 9.47%.

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.