11,037 Shares in SouthState Bank Corporation $SSB Purchased by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of SouthState Bank Corporation (NYSE:SSB) in the 3rd quarter, Holdings Channel reports. The firm purchased 11,037 shares of the company’s stock, valued at approximately $1,099,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of SouthState Bank in the 2nd quarter valued at approximately $981,557,000. Bank of New York Mellon Corp purchased a new stake in shares of SouthState Bank during the 2nd quarter worth $130,419,000. The Manufacturers Life Insurance Company purchased a new stake in shares of SouthState Bank during the 2nd quarter worth $85,467,000. Bank of America Corp DE acquired a new position in shares of SouthState Bank during the second quarter worth $59,792,000. Finally, Algebris UK Ltd. acquired a new position in shares of SouthState Bank during the second quarter worth $57,293,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Transactions at SouthState Bank

In other SouthState Bank news, CFO William E. V. Matthews sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $108.93, for a total value of $435,720.00. Following the completion of the transaction, the chief financial officer owned 40,568 shares in the company, valued at $4,419,072.24. This represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

SouthState Bank Stock Up 0.1%

Shares of NYSE:SSB opened at $104.19 on Monday. The company has a market capitalization of $10.07 billion, a PE ratio of 11.10 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. SouthState Bank Corporation has a twelve month low of $84.47 and a twelve month high of $112.20. The firm has a 50 day simple moving average of $103.56 and a 200-day simple moving average of $100.44.

SouthState Bank (NYSE:SSB) last issued its earnings results on Wednesday, October 21st. The company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.10). The company had revenue of $685.43 million during the quarter, compared to analyst estimates of $691.13 million. SouthState Bank had a net margin of 24.63% and a return on equity of 10.23%. During the same quarter in the previous year, the company posted $2.58 EPS. On average, equities analysts predict that SouthState Bank Corporation will post 9.35 EPS for the current fiscal year.

SouthState Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.64 dividend on an annualized basis and a yield of 2.5%. SouthState Bank’s payout ratio is 28.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SSB. Citigroup dropped their target price on SouthState Bank from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Piper Sandler lifted their price target on SouthState Bank from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Wall Street Zen cut SouthState Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of SouthState Bank in a report on Monday, October 12th. Finally, TD Cowen dropped their price objective on SouthState Bank from $120.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $119.62.

About SouthState Bank

SouthState Bank is a regional bank and subsidiary of SouthState Corporation, a financial services company. It provides personal and business banking services, including deposit accounts, loans, mortgage lending, treasury management and wealth management.

The bank traces its history to 1934, when the First National Bank of Orangeburg opened in South Carolina. Its footprint is centered in the southeastern United States, with operations extending into Texas and Colorado following SouthState Corporation’s combination with Independent Bank Group.

SouthState serves individuals, businesses and institutions through branches, digital banking and other financial services.