Southern States Bancshares, Inc. (NASDAQ:SSBK) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Southern States Bancshares, Inc. (NASDAQ:SSBK) by 88.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,637 shares of the company’s stock after buying an additional 10,135 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Southern States Bancshares were worth $665,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Southern States Bancshares by 0.8% in the first quarter. Vanguard Group Inc. now owns 349,767 shares of the company’s stock valued at $9,066,000 after acquiring an additional 2,782 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Southern States Bancshares by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 50,521 shares of the company’s stock valued at $1,371,000 after purchasing an additional 9,244 shares during the period. Bank of New York Mellon Corp grew its stake in Southern States Bancshares by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,045 shares of the company’s stock worth $1,087,000 after buying an additional 3,708 shares during the last quarter. Kennedy Capital Management LLC grew its stake in Southern States Bancshares by 3.7% during the 1st quarter. Kennedy Capital Management LLC now owns 24,851 shares of the company’s stock worth $644,000 after buying an additional 886 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Southern States Bancshares during the third quarter worth approximately $471,000. 58.73% of the stock is owned by hedge funds and other institutional investors.

Southern States Bancshares Stock Performance

NASDAQ SSBK opened at $37.42 on Friday. The firm’s fifty day moving average is $32.57 and its two-hundred day moving average is $29.96. Southern States Bancshares, Inc. has a one year low of $22.13 and a one year high of $39.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $369.90 million, a PE ratio of 10.54 and a beta of 0.21.

Southern States Bancshares (NASDAQ:SSBK) last issued its quarterly earnings results on Monday, October 21st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.07). Southern States Bancshares had a net margin of 19.33% and a return on equity of 14.11%. The company had revenue of $46.83 million during the quarter.

Southern States Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Friday, November 1st. Southern States Bancshares’s dividend payout ratio is presently 10.14%.

Wall Street Analyst Weigh In

Separately, Hovde Group decreased their price objective 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 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.