( ) 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
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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.
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