Keystone Financial Group Inc. Takes Position in Southern States Bancshares, Inc. (NASDAQ:SSBK)

Keystone Financial Group Inc. purchased a new position in shares of Southern States Bancshares, Inc. (NASDAQ:SSBK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 59,868 shares of the company’s stock, valued at approximately $1,994,000. Southern States Bancshares makes up approximately 1.6% of Keystone Financial Group Inc.’s investment portfolio, making the stock its 14th largest position. Keystone Financial Group Inc. owned approximately 0.61% of Southern States Bancshares as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Southern States Bancshares by 22.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company’s stock worth $1,371,000 after purchasing an additional 9,244 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Southern States Bancshares during the second quarter worth about $257,000. Los Angeles Capital Management LLC acquired a new position in Southern States Bancshares during the third quarter worth about $471,000. GSA Capital Partners LLP purchased a new position in Southern States Bancshares in the 3rd quarter valued at approximately $276,000. Finally, Empowered Funds LLC purchased a new stake in shares of Southern States Bancshares in the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 58.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Hovde Group cut their price target on Southern States Bancshares from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd.

Southern States Bancshares Stock Performance

NASDAQ SSBK opened at $33.40 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $329.99 million, a PE ratio of 9.10 and a beta of 0.33. The business’s 50-day moving average price is $34.15 and its 200 day moving average price is $32.51. Southern States Bancshares, Inc. has a twelve month low of $22.13 and a twelve month high of $39.16.

Southern States Bancshares (NASDAQ:SSBK) last released its earnings results 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 disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. Southern States Bancshares’s payout ratio is 9.81%.

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.