SouthState Bank Corporation $SSB Shares Acquired by Savant Capital LLC

Savant Capital LLC increased its holdings in SouthState Bank Corporation (NYSE:SSB) by 44.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,133 shares of the company’s stock after buying an additional 7,405 shares during the quarter. Savant Capital LLC’s holdings in SouthState Bank were worth $2,386,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Mather Group LLC. purchased a new stake in SouthState Bank in the third quarter valued at $33,000. Steward Partners Investment Advisory LLC purchased a new position in shares of SouthState Bank during the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC boosted its holdings in SouthState Bank by 106.8% during the third quarter. Global Retirement Partners LLC now owns 364 shares of the company’s stock worth $36,000 after buying an additional 188 shares in the last quarter. True Wealth Design LLC increased its holdings in SouthState Bank by 37,700.0% in the third quarter. True Wealth Design LLC now owns 378 shares of the company’s stock valued at $37,000 after buying an additional 377 shares in the last quarter. Finally, TFC Financial Management Inc. grew its holdings in SouthState Bank by 49,800.0% in the second quarter. TFC Financial Management Inc. now owns 499 shares of the company’s stock valued at $46,000 after purchasing an additional 498 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

SouthState Bank Stock Performance

Shares of SSB stock opened at $107.93 on Friday. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 13.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.93. SouthState Bank Corporation has a 1 year low of $77.74 and a 1 year high of $108.46. The business’s 50-day moving average price is $97.40.

SouthState Bank (NYSE:SSB) last announced its earnings results on Thursday, January 22nd. The company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.17. SouthState Bank had a net margin of 21.26% and a return on equity of 10.86%. The business had revenue of $686.87 million during the quarter, compared to analysts’ expectations of $667.88 million. During the same period in the prior year, the company earned $1.93 earnings per share.

SouthState Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, February 6th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $2.40 annualized dividend and a yield of 2.2%. SouthState Bank’s dividend payout ratio (DPR) is presently 30.53%.

Analysts Set New Price Targets

A number of research firms have recently commented on SSB. Weiss Ratings raised shares of SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. TD Cowen upped their price objective on shares of SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. UBS Group cut their price target on SouthState Bank from $125.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Raymond James Financial lifted their price target on SouthState Bank from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a report on Wednesday, January 7th. Finally, Piper Sandler decreased their target price on shares of SouthState Bank from $121.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $118.71.

SouthState Bank Company Profile

SouthState Bank (NYSE: SSB) is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.