Southern States Bancshares declared a $0.09 cash dividend per share, payable February 14, 2025, to eligible shareholders.
Quiver AI Summary
Southern States Bancshares, Inc. has announced a cash dividend of $0.09 per share on its common stock, which will be distributed on February 14, 2025, to shareholders recorded as of February 3, 2025. Headquartered in Anniston, Alabama, the company operates primarily through Southern States Bank, which is a community bank providing a range of financial services to businesses and individuals across its 15 branches in Alabama and Georgia, as well as two loan production offices in Atlanta.
Potential Positives
- Declaration of a cash dividend of $0.09 per share demonstrates financial stability and profitability of Southern States Bancshares, Inc.
- The upcoming dividend payout date reinforces shareholder confidence by providing a direct return on investment.
- The dividend payment highlights the company’s commitment to returning value to its shareholders amidst market conditions.
Potential Negatives
- The announced cash dividend of $0.09 per share may be perceived as low, potentially indicating limited earnings growth or financial pressure, which could concern investors.
- Issuing a cash dividend at this amount might signal to the market that the company lacks sufficient growth opportunities to reinvest earnings back into the business, which could dampen investor sentiment.
FAQ
What is the cash dividend declared by Southern States Bancshares?
The Board of Directors has declared a cash dividend of $0.09 per share on its common stock.
When is the dividend payable?
The dividend is payable on February 14, 2025, to shareholders of record as of February 3, 2025.
Where is Southern States Bancshares headquartered?
Southern States Bancshares, Inc. is headquartered in Anniston, Alabama.
What services does Southern States Bank offer?
Southern States Bank provides a variety of deposit, loan, and banking-related products and services to businesses and individuals.
How many branches does Southern States Bank operate?
Southern States Bank operates fifteen branches in Alabama and Georgia, along with two loan production offices in Atlanta.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SSBK Insider Trading Activity
$SSBK insiders have traded $SSBK stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $SSBK stock by insiders over the last 6 months:
- BRENT O. HITSON has made 0 purchases and 2 sales selling 7,747 shares for an estimated $253,255.
- LYNN J JOYCE (Chief Financial Officer) has made 0 purchases and 2 sales selling 3,000 shares for an estimated $98,550.
- JAY F. PUMROY sold 2,995 shares for an estimated $96,229
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SSBK Hedge Fund Activity
We have seen 39 institutional investors add shares of $SSBK stock to their portfolio, and 19 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- KENNEDY CAPITAL MANAGEMENT LLC added 62,268 shares (+242.1%) to their portfolio in Q3 2024, for an estimated $1,913,495
- BLACKROCK, INC. added 38,641 shares (+7.9%) to their portfolio in Q3 2024, for an estimated $1,187,437
- SEGALL BRYANT & HAMILL, LLC removed 30,942 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $950,847
- BANC FUNDS CO LLC removed 25,440 shares (-3.4%) from their portfolio in Q3 2024, for an estimated $781,771
- GOLDMAN SACHS GROUP INC added 21,991 shares (+inf%) to their portfolio in Q3 2024, for an estimated $675,783
- INVESCO LTD. removed 18,493 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $568,289
- VANGUARD GROUP INC added 17,583 shares (+4.9%) to their portfolio in Q3 2024, for an estimated $540,325
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ANNISTON, Ala., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ: SSBK) (“Southern States”), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the “Bank”), today announced that its Board of Directors has declared a cash dividend on its common stock of $0.09 per share. The dividend is payable on February 14, 2025 to shareholders of record as of February 3, 2025.
About Southern States Bancshares, Inc.
Headquartered in Anniston, Alabama, Southern States Bancshares, Inc. is a bank holding company that operates primarily through its wholly-owned subsidiary, Southern States Bank. The Bank is a full-service community banking institution, which offers an array of deposit, loan and other banking-related products and services to businesses and individuals in its communities. The Bank operates fifteen branches in Alabama and Georgia and two loan production offices in Atlanta.
Contact Information:
Lynn Joyce
(205) 820-8065
[email protected]
Margaret Boyce
(310) 622-8247
[email protected]
