14,822 Shares in SouthState Bank Corporation $SSB Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new position in shares of SouthState Bank Corporation (NYSE:SSB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,822 shares of the company’s stock, valued at approximately $1,465,000.

Several other large investors also recently bought and sold shares of SSB. Laurel Wealth Advisors LLC raised its stake in shares of SouthState Bank by 9,074.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock worth $132,125,000 after buying an additional 1,420,019 shares during the last quarter. Norges Bank purchased a new position in SouthState Bank during the 2nd quarter valued at about $109,029,000. Qube Research & Technologies Ltd purchased a new position in SouthState Bank during the 2nd quarter valued at about $81,769,000. Jane Street Group LLC raised its position in SouthState Bank by 810.7% during the second quarter. Jane Street Group LLC now owns 755,705 shares of the company’s stock worth $69,548,000 after acquiring an additional 672,721 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of SouthState Bank by 90.8% in the second quarter. Invesco Ltd. now owns 1,173,003 shares of the company’s stock valued at $107,951,000 after purchasing an additional 558,252 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Stephens raised their price objective on shares of SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Jefferies Financial Group raised their price target on SouthState Bank from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. DA Davidson upped their price objective on SouthState Bank from $119.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. started coverage on shares of SouthState Bank in a research note on Friday, December 12th. They issued an “overweight” rating and a $115.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $118.71.

SouthState Bank Stock Up 1.3%

SSB stock opened at $107.93 on Friday. The firm has a market capitalization of $10.85 billion, a PE ratio of 13.73 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.08. SouthState Bank Corporation has a 52-week low of $77.74 and a 52-week high of $108.46. The business’s fifty day simple moving average is $97.40.

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

SouthState Bank Dividend Announcement

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 paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a yield of 2.2%. SouthState Bank’s dividend payout ratio (DPR) is currently 30.53%.

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.