Streetbeat News

SSBK

Southern States Bancshares, Inc.

Industry

Banks - Regional

Southern States Bancshares, Inc. operates as the bank holding company for Southern States Bank that provides community banking services to businesses and individuals. It offers various deposit products, such as savings, money market, and noninterest-bearing demand accounts; certificates of deposit; and time deposits. The company also provides real estate loan products, which include loans for real estate construction and development, residential mortgages, and commercial real estate mortgage loans; commercial and industrial loans; and direct consumer installment loans, overdrafts, and other revolving credit loans. In addition, it offers online and mobile banking, and ATM services. The company operates 15 offices in Alabama and Georgia, as well as a loan production office in Atlanta, Georgia. Southern States Bancshares, Inc. was founded in 2007 and is headquartered in Anniston, Alabama.

Open

35.37

Mkt cap

357M

Volume

5.5K

High

36.14

P/E Ratio

10.30

52-wk high

37.86

Low

35.37

Div yield

0.01

52-wk low

22.13

Southern States Bancshares, Inc. reported Q3 2024 adjusted EPS of $0.89, missing the estimate of $0.96. However, sales were $26.003 million, surpassing the expected $25.350 million.

Portfolio Pulse from Benzinga Newsdesk

October 21, 2024 | 11:09 am

Keefe, Bruyette & Woods analyst Catherine Mealor has reiterated an Outperform rating on Southern States (NASDAQ:SSBK) and raised the price target from $35 to $36.

Portfolio Pulse from Benzinga Newsdesk

July 23, 2024 | 12:02 pm

Southern States (NASDAQ:SSBK) reported Q2 2024 adjusted EPS of $1.00, beating the $0.89 estimate, but sales of $22.947 million missed the $22.600 million estimate. EPS increased by 26.58% year-over-year, while sales decreased by 100% from $26.294 million last year.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 11:20 am

Senator Tommy Tuberville disclosed multiple large trades, including sales of Cleveland-Cliffs, Intel, Humacyte, and Paramount Global stocks, and purchases of call and put options on the Ark Innovation ETF. He also made new buys in Intel and Solventum Corporation. Tuberville's trading activity has drawn scrutiny due to his committee assignments.

Portfolio Pulse from Chris Katje

June 17, 2024 | 10:45 pm

Southern States (NASDAQ:SSBK) reported Q1 2024 adjusted EPS of $0.90, surpassing the $0.83 estimate, and sales of $22.107M, exceeding the $21.600M forecast. This represents an 11.11% increase in EPS and a 3.63% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 11:41 am

U.S. Senator Tommy Tuberville's recent regulatory filings reveal trades in stocks and options of several companies, including sales of put options for Adobe Inc, Qualcomm Inc, and Applied Materials Inc, and purchases of Humacyte Inc shares. These activities raise conflict of interest concerns due to Tuberville's position on Congressional committees. Additionally, Tuberville bought shares in Southern States Bancshares Inc, Paramount Global, and Walgreens Boots Alliance, and sold shares in Apple Inc, JPMorgan Chase & Co, CSX Corp, and Texas Instruments Inc.

Portfolio Pulse from Chris Katje

April 17, 2024 | 10:05 pm

Southern States Bancshares, Inc. (NASDAQ:SSBK) announced the retirement of COO Jack Swift, effective May 31, 2024. Swift's responsibilities will be absorbed by CFO Lynn Joyce and Chief Risk Officer Greg Smith. Swift, who has been with Southern States for 18 years, played a key role in growing the company into a leading community banking institution in Alabama and Georgia. His retirement marks the end of a 40-year banking career.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:01 pm

Senator Tommy Tuberville disclosed stock transactions in Southern States Bancshares (SSBK) and Star Bulk Carriers Corp (SBLK), raising concerns over potential conflicts of interest due to his committee assignments. Tuberville's trades, including in United States Steel Corporation (X), Humacyte Inc (HUMA), and Intel Corporation (INTC), have been scrutinized for possible influence from his Senate positions. Despite criticism, Tuberville opposes a ban on Congress members' stock trading, arguing it would deter public service.

Portfolio Pulse from Chris Katje

March 19, 2024 | 6:17 pm

Keefe, Bruyette & Woods analyst Catherine Mealor upgrades Southern States (NASDAQ:SSBK) from Market Perform to Outperform and raises the price target from $32 to $35.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 11:33 am

Southern States Bancshares, Inc. (SSBK) announced the acquisition of CBB Bancorp, aiming to enhance its Georgia franchise. The merger, expected to close in Q3 2024 pending regulatory approval, will result in a combined entity with $2.8 billion in assets. This move will expand Southern States Bank's presence, especially in the Atlanta metro market, with 15 branches and two loan production offices across Alabama and Georgia.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 12:33 pm

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