Yahoo Finance Southern States Bancshares First Quarter 2024 Earnings: Beats Expectations
Southern States Bancshares (NASDAQ:SSBK) First Quarter 2024 Results
Key Financial Results
Revenue: US$20.9m (up 3.6% from 1Q 2023).
Net income: US$8.12m (up 5.8% from 1Q 2023).
Profit margin: 39% (in line with 1Q 2023).
EPS: US$0.91 (up from US$0.88 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Southern States Bancshares Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.4%.
Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 3.5% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. See our latest analysis on Southern States Bancshares' balance sheet health.
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