Southern States Bancshares Inc (SSBK) said before open Monday that it earned $1.06 per share in quarter three 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 $17.8 million, missing estimates by $2.5 million.
In the same quarter a year ago, the company earned $0.77 per share on revenue of $20.8 million.
The stock is up 1.03% to $22.48 after the report.
Despite Southern States Bancshares Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Southern States Bancshares Inc a Neutral Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 39. 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 our communities.
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Southern States Bancshares Inc Up 1.03% To $22.48 After Earnings Beat
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