Keystone Financial Group Inc. Purchases Shares of 59,868 Southern States Bancshares, Inc. (NASDAQ:SSBK)

Keystone Financial Group Inc. acquired a new position in Southern States Bancshares, Inc. (NASDAQ:SSBK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,868 shares of the company’s stock, valued at approximately $1,994,000. Southern States Bancshares makes up 1.6% of Keystone Financial Group Inc.’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Southern States Bancshares during the fourth quarter worth $115,000. Empowered Funds LLC acquired a new position in Southern States Bancshares in the third quarter worth about $208,000. Quadrature Capital Ltd bought a new stake in shares of Southern States Bancshares in the 3rd quarter valued at approximately $221,000. OneAscent Wealth Management LLC bought a new stake in Southern States Bancshares during the third quarter valued at $236,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Southern States Bancshares during the 3rd quarter valued at about $276,000. Hedge funds and other institutional investors own 58.73% of the company’s stock.

Southern States Bancshares Stock Performance

SSBK stock opened at $33.40 on Friday. The company has a 50-day simple moving average of $34.15 and a 200 day simple moving average of $32.51. The company has a market capitalization of $329.99 million, a P/E ratio of 9.10 and a beta of 0.33. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. Southern States Bancshares, Inc. has a fifty-two week low of $22.13 and a fifty-two week high of $39.16.

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

Southern States Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Monday, February 3rd. Southern States Bancshares’s payout ratio is currently 9.81%.

Wall Street Analyst Weigh In

Separately, Hovde Group dropped their target price on 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.

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.