Fisher Asset Management LLC Has $60.04 Million Holdings in SouthState Bank Corporation $SSB

Fisher Asset Management LLC trimmed its position in SouthState Bank Corporation (NYSE:SSB) by 23.6% in the third quarter, Holdings Channel reports. The fund owned 607,254 shares of the company’s stock after selling 187,229 shares during the quarter. Fisher Asset Management LLC’s holdings in SouthState Bank were worth $60,039,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in SouthState Bank by 1.2% in the third quarter. Vanguard Group Inc. now owns 10,775,431 shares of the company’s stock valued at $1,065,367,000 after purchasing an additional 130,358 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of SouthState Bank by 10.1% during the second quarter. American Century Companies Inc. now owns 1,948,379 shares of the company’s stock worth $179,310,000 after purchasing an additional 178,842 shares during the last quarter. Laurel Wealth Advisors LLC increased its stake in shares of SouthState Bank by 9,074.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock valued at $132,125,000 after buying an additional 1,420,019 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of SouthState Bank by 22.9% in the second quarter. Westwood Holdings Group Inc. now owns 1,217,703 shares of the company’s stock valued at $112,065,000 after buying an additional 227,168 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in SouthState Bank by 26.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,217,267 shares of the company’s stock valued at $112,025,000 after buying an additional 253,178 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

SSB has been the topic of a number of research reports. Stephens boosted their target price on shares of SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. UBS Group reduced their price objective on shares of SouthState Bank from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Barclays raised their target price on SouthState Bank from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Raymond James Financial lifted their target price 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, DA Davidson increased their price target on SouthState Bank from $119.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $118.71.

SouthState Bank Stock Performance

Shares of SSB opened at $99.72 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $100.23 and its two-hundred day simple moving average is $96.98. SouthState Bank Corporation has a 12 month low of $77.74 and a 12 month high of $108.46. The stock has a market capitalization of $9.78 billion, a P/E ratio of 12.69 and a beta of 0.73.

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

SouthState Bank Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, February 6th. SouthState Bank’s dividend payout ratio is presently 30.53%.

About SouthState Bank

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.