Southern States Bancshares Inc (SSBK) said after close Monday that it earned $0.8 per share in quarter one 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $21.3 million, beating estimates by $432 thousand.
In the same quarter a year ago, the company earned $0.53 per share on revenue of $16 million.
The stock is up 0.8% to $23.31 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 27. Meanwhile, the average Wall Street analyst rated the stock a Hold.
Southern States Bancshares Inc 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 communities.
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Southern States Bancshares Inc Up 0.8% To $23.31 After Earnings Beat
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