Southern States Q1 2024 Adj EPS $0.90 Beats $0.83 Estimate, Sales $22.107M Beat $21.600M Estimate

4/22/24 7:41:48 AM ET

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Southern States (NASDAQ:SSBK) reported quarterly earnings of $0.90 per share which beat the analyst consensus estimate of $0.83 by 8.43 percent. This is a 11.11 percent increase over earnings of $0.81 per share from the same period last year. The company reported quarterly sales of $22.107 million which beat the analyst consensus estimate of $21.600 million by 2.35 percent. This is a 3.63 percent increase over sales of $21.332 million the same period last year.

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Recent Analyst Ratings for
$SSBK

Date	Price Target	Rating	Analyst
10/22/2024	$36.00 → $35.00	Outperform	Hovde Group
9/9/2024		Outperform	Hovde Group
3/15/2024	$32.00 → $35.00	Mkt Perform → Outperform	Keefe Bruyette
10/7/2022	$27.00	Outperform → Mkt Perform	Keefe Bruyette
9/9/2022	$26.00	Buy → Hold	Truist
9/7/2021	$24.00	Outperform	Keefe Bruyette
9/7/2021	$23.00	Buy	Truist Securities

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$SSBK
Financials

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Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results
Third Quarter 2024 Performance and Operational Highlights Net income of $7.4 million, or $0.76 per diluted shareCore net income(1) of $8.7 million, or $0.89 per diluted share(1)Core pretax pre-provision net income(1) of $13.8 millionNet interest income of $24.2 million, an increase of $2.7 million from the prior quarterNet interest margin ("NIM") of 3.65%, up 9 basis points from the prior quarterNIM of 3.66% on a fully-taxable equivalent basis ("NIM - FTE")(1)Return on average assets ("ROAA") of 1.05%; return on average stockholders' equity ("ROAE") of 11.89%; and return on average tangible common equity ("ROATCE")(1) of 13.35%Core ROAA(1) of 1.24%; and core ROATCE(1) of 15.74%Efficiency ra
10/21/24 7:00:44 AM ET
$SSBK
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Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 per Share
ANNISTON, Ala., Oct. 16, 2024 (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 November 15, 2024 to shareholders of record as of November 1, 2024. 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 insti
10/16/24 4:05:33 PM ET
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Southern States Bancshares, Inc. Announces Second Quarter 2024 Financial Results
Second Quarter 2024 Performance and Operational Highlights Net income of $8.2 million, or $0.90 per diluted shareCore net income(1) of $9.1 million, or $1.00 per diluted share(1)Net interest income of $21.6 million, an increase of $740,000 from the prior quarterNet interest margin ("NIM") of 3.56%, down 3 basis points from the prior quarterNIM of 3.57% on a fully-taxable equivalent basis ("NIM - FTE")(1)Return on average assets ("ROAA") of 1.29%; return on average stockholders' equity ("ROAE") of 14.55%; and return on average tangible common equity ("ROATCE")(1) of 15.79%Core ROAA(1) of 1.43%; and core ROATCE(1) of 17.44%Efficiency ratio of 49.78%; and core efficiency ratio of 44.75%Linked-
7/22/24 7:00:23 AM ET
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Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results
Third Quarter 2024 Performance and Operational Highlights Net income of $7.4 million, or $0.76 per diluted shareCore net income(1) of $8.7 million, or $0.89 per diluted share(1)Core pretax pre-provision net income(1) of $13.8 millionNet interest income of $24.2 million, an increase of $2.7 million from the prior quarterNet interest margin ("NIM") of 3.65%, up 9 basis points from the prior quarterNIM of 3.66% on a fully-taxable equivalent basis ("NIM - FTE")(1)Return on average assets ("ROAA") of 1.05%; return on average stockholders' equity ("ROAE") of 11.89%; and return on average tangible common equity ("ROATCE")(1) of 13.35%Core ROAA(1) of 1.24%; and core ROATCE(1) of 15.74%Efficiency ra
10/21/24 7:00:44 AM ET
$SSBK
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Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 per Share
ANNISTON, Ala., Oct. 16, 2024 (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 November 15, 2024 to shareholders of record as of November 1, 2024. 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 insti
10/16/24 4:05:33 PM ET
$SSBK
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Southern States Bancshares Completes Acquisition of CBB Bancorp
ANNISTON, Ala., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ:SSBK) ("Southern States"), the holding company for Southern States Bank, announced today the completion of its previously announced acquisition of CBB Bancorp ("CBB Bancorp"), the holding company for Century Bank of Georgia ("Century Bank"). Effective July 31, 2024, CBB Bancorp has been merged with and into Southern States, with Southern States surviving, and Century Bank has been merged with and into Southern States Bank, with Southern States Bank surviving. The acquisition of CBB Bancorp enhances Southern States' presence in Georgia, especially in the high-growth Atlanta metro market. With this tr
8/1/24 7:30:50 AM ET
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Southern States Bancshares Announces Retirement of COO Jack Swift
ANNISTON, Ala., March 21, 2024 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ:SSBK) ("Southern States" or the "Company"), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the "Bank"), today announced the retirement of Chief Operating Officer Jack Swift, effective May 31, 2024. Swift's retirement culminates 18 years of service at Southern States, during which he served five years as Senior Executive Vice President and COO. "On behalf of our Board of Directors and all of our Southern States colleagues, I congratulate Jack on the culmination of his 40-year banking career," said Mark Chambers, Chief Executive Officer and President. "He h
3/21/24 7:55:44 AM ET
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Southern States Bancshares, Inc. Announces Leadership Transition
Mark Chambers, Current President, Appointed Chief Executive Officer J. Henry Smith, IV Named Chairman of Company and Bank Boards Chairman and CEO Stephen Whatley Retires After 16 Years at the Helm ANNISTON, Ala., May 01, 2023 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ:SSBK) ("Southern States" or the "Company"), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the "Bank"), today announced the appointment of Mark Chambers as Chief Executive Officer. He succeeds retiring Chief Executive Officer and Founder Stephen Whatley. The changes were effective April 28, 2023. Mr. Whatley, 71, also retired from his positions as Chairman of th
5/1/23 8:00:00 AM ET
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Southern States Bancshares, Inc. Announces Appointment of Three Directors, Deepening Board Experience in High-Growth Atlanta Region
ANNISTON, Ala., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Southern States Bancshares, Inc. (NASDAQ:SSBK) ("Southern States" or the "Company"), the holding company for Southern States Bank, an Alabama state-chartered commercial bank (the "Bank"), today announced the appointment of three new directors, increasing the total number of independent directors to eight and the total number of directors to thirteen. Each new director also joined the Board of Southern States Bank. Jonathan Hinton, Christine Hunsaker and Andy Cummings collectively bring decades of business, finance and real estate experience to the Southern States Board of Directors, adding leadership depth as the Bank gains scale and deepe
2/22/23 4:05:00 PM ET
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Southern States Q1 2024 Adj EPS $0.90 Beats $0.83 Estimate, Sales $22.107M Beat $21.600M Estimate

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Recent Analyst Ratings for $SSBK

$SSBK SEC Filings

Southern States Bancshares Inc. filed SEC Form 8-K: Regulation FD Disclosure, Results of Operations and Financial Condition, Financial Statements and Exhibits

Southern States Bancshares Inc. filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

SEC Form 10-Q filed by Southern States Bancshares Inc.

$SSBK Market Insights

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Keefe, Bruyette & Woods Reiterates Outperform on Southern States, Raises Price Target to $36

Southern States Q2 2024 Adj EPS $1.00 Beats $0.89 Estimate, Sales $22.947 Miss $22.600M Estimate

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Hovde Group reiterated coverage on Southern States Bancshares with a new price target

Hovde Group initiated coverage on Southern States Bancshares

Southern States Bancshares upgraded by Keefe Bruyette with a new price target

$SSBK Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

Hitson Brent O. bought $3,435 worth of shares (143 units at $24.02), increasing direct ownership by 0.49% to 29,500 units (SEC Form 4)

$SSBK Large Ownership Changes

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SEC Form SC 13G/A filed by Southern States Bancshares Inc. (Amendment)

SEC Form SC 13G/A filed by Southern States Bancshares Inc. (Amendment)

SEC Form SC 13G/A filed by Southern States Bancshares Inc. (Amendment)

$SSBK Insider Trading

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Chief Risk Officer Smith Gregory B. gifted 345 shares, decreasing direct ownership by 0.52% to 65,743 units (SEC Form 4)

Director Drews Richard E. Jr. was granted 27,298 shares, increasing direct ownership by 6,698% to 26,919 units (SEC Form 4)

Director Hitson Brent O. sold $62,340 worth of shares (2,000 units at $31.17), decreasing direct ownership by 8% to 21,753 units (SEC Form 4)

$SSBK Financials

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Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 per Share

Southern States Bancshares, Inc. Announces Second Quarter 2024 Financial Results

$SSBK Press Releases

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Southern States Bancshares, Inc. Announces Third Quarter 2024 Financial Results

Southern States Bancshares, Inc. Announces Quarterly Cash Dividend of $0.09 per Share

Southern States Bancshares Completes Acquisition of CBB Bancorp

$SSBK Leadership Updates

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Southern States Bancshares Announces Retirement of COO Jack Swift

Southern States Bancshares, Inc. Announces Leadership Transition

Southern States Bancshares, Inc. Announces Appointment of Three Directors, Deepening Board Experience in High-Growth Atlanta Region

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