Leeward Investments LLC MA Has $10.96 Million Holdings in SouthState Bank Corporation $SSB

Leeward Investments LLC MA increased its position in shares of SouthState Bank Corporation (NYSE:SSB) by 32.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,759 shares of the company’s stock after purchasing an additional 26,754 shares during the quarter. Leeward Investments LLC MA owned 0.11% of SouthState Bank worth $10,965,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Root Financial Partners LLC increased its holdings in SouthState Bank by 100.0% in the 1st quarter. Root Financial Partners LLC now owns 420 shares of the company’s stock valued at $39,000 after buying an additional 210 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of SouthState Bank during the 2nd quarter worth approximately $50,000. Measured Wealth Private Client Group LLC bought a new stake in shares of SouthState Bank during the 3rd quarter worth approximately $51,000. GHP Investment Advisors Inc. acquired a new stake in shares of SouthState Bank during the 1st quarter worth approximately $52,000. Finally, Danske Bank A S acquired a new stake in shares of SouthState Bank during the 3rd quarter worth approximately $59,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SouthState Bank

In related news, Director David R. Brooks sold 24,650 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $110.00, for a total value of $2,711,500.00. Following the sale, the director owned 7,900 shares of the company’s stock, valued at $869,000. The trade was a 75.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SSB has been the subject of several research analyst reports. Barclays lowered their price objective on shares of SouthState Bank from $123.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Hovde Group raised their target price on SouthState Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on SouthState Bank from $115.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Weiss Ratings raised SouthState Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 14th. Finally, DA Davidson restated a “buy” rating and set a $125.00 price objective on shares of SouthState Bank in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.64.

SouthState Bank Stock Performance

SouthState Bank stock opened at $110.98 on Friday. The business has a 50 day moving average of $101.87 and a 200-day moving average of $98.73. The company has a market capitalization of $10.76 billion, a P/E ratio of 11.67 and a beta of 0.71. SouthState Bank Corporation has a 1 year low of $84.47 and a 1 year high of $111.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.93.

SouthState Bank (NYSE:SSB) last posted its earnings results on Thursday, July 23rd. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. SouthState Bank had a net margin of 25.09% and a return on equity of 10.67%. The firm had revenue of $672.67 million for the quarter, compared to analyst estimates of $676.83 million. During the same period in the previous year, the firm posted $2.30 EPS. On average, equities research analysts predict that SouthState Bank Corporation will post 9.51 earnings per share for the current year.

SouthState Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from SouthState Bank’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, August 7th. SouthState Bank’s dividend payout ratio (DPR) is presently 27.76%.

SouthState Bank 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.