Southern States Bancshares, Inc. (NASDAQ:SSBK) Sees Significant Increase in Short Interest

( ) experienced a significant increase in the short interest in June. On June 30, there were 127,500 shorted shares. This is a 540.7% increase from the total of 19,900 on June 15. The short-interest ratio, based on an average daily volume of 30,200 shares is currently 4.2. At the moment, 1,9% of shares are shorted.

Southern States Bancshares stock down 0.2 %

The price of the stock fell by $0.05 to $21.46 during Friday's trading hours. The company's average trading volume is 58,699. The company has a market capitalization of $187.78 millions, a PE of 6.37, and a beta value of -0.08. The debt-to equity ratio is 0.69. There are also quick ratios of 1.02, current ratios of 1,02 and a ratio of 1.00. The stock's 50-day moving average is $20.93, and its 200-day moving average $24.33. The company released its latest quarterly earnings report on Monday, 24th April. The company posted $0.80 per share for the quarter. This was $0.11 higher than analysts' expectations of $0.69. Revenue for the quarter was $21.33 millions, which is higher than the $19.40 million consensus estimate. Southern States Bancshares reported a return of equity of 15.46%, and a margin of net of 28.80%. Analysts from equities firms predict that Southern States Bancshares' earnings per share will be 2.72 for the current fiscal year.

Southern States Bancshares Dividend announcement

A quarterly dividend was also declared by the company and paid out on May 16th. Investors who had their records on the 3rd of May were paid a dividend of $0.09. This dividend became payable on Tuesday, May 2. This is a $0.36 annualized dividend and yields 1.68%. Southern States Bancshares has a dividend payout ratio of 10.68%.

Southern States Bancshares: Hedge Funds weigh in

Recently, several large investors bought and sold the stock. UBS Group AG increased the shares it owned of Southern States Bancshares during the third-quarter by 77.6%. UBS Group AG owns 1,069 of the company’s shares worth $29,000, after buying an additional 467 in the third quarter. Acadian Asset Management LLC purchased a new Southern States Bancshares position during the first three months of this year, valued at approximately $59,000. Bank of America Corp DE increased its stake in Southern States Bancshares in the first three months by 57.575.0%. Bank of America Corp DE owns now 4,614 shares of Southern States Bancshares valued at $104,000, after purchasing an additional 4,606 during the last quarterly. Citigroup Inc. increased its stake in Southern States Bancshares from 12.5% to $116,000 in the first quarter. Citigroup Inc. owns now 5,132 shares worth $116,000, after purchasing an additional 569 during the previous quarter. Morgan Stanley increased its holdings of Southern States Bancshares shares by 437.4% during the fourth quarter. Morgan Stanley owns 7,179 of the company’s shares valued at $208,000, after adding 5,843 more shares. 48.26% is owned by institutional investors and hedge fund.

Wall Street analysts forecast growth

Keefe, Bruyette & Woods lowered its target price for Southern States Bancshares in a report published on Thursday, 4th April from $27.00 down to $25.00. They also assigned the stock a rating of'market perform.'

Southern States Bancshares

Get Free Report

Southern States Bancshares, Inc. is the holding company of Southern States Bank, which provides banking services for businesses and individuals. It offers a variety of deposit products such as certificates of deposit, time deposits, savings, money-market, and non-interest bearing demand accounts. offers a FREE daily email newsletter