SouthState Bank Corporation $SSB Shares Purchased by World Investment Advisors

World Investment Advisors increased its position in shares of SouthState Bank Corporation (NYSE:SSB) by 183.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,531 shares of the company’s stock after acquiring an additional 8,106 shares during the quarter. World Investment Advisors’ holdings in SouthState Bank were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SSB. Blue Trust Inc. increased its holdings in shares of SouthState Bank by 12.4% during the 2nd quarter. Blue Trust Inc. now owns 991 shares of the company’s stock worth $91,000 after buying an additional 109 shares during the last quarter. Nicholson Wealth Management Group LLC grew its stake in shares of SouthState Bank by 1.8% in the second quarter. Nicholson Wealth Management Group LLC now owns 7,201 shares of the company’s stock valued at $663,000 after buying an additional 125 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of SouthState Bank by 14.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,090 shares of the company’s stock valued at $100,000 after buying an additional 134 shares during the period. Sheets Smith Wealth Management lifted its stake in SouthState Bank by 2.3% during the 2nd quarter. Sheets Smith Wealth Management now owns 6,345 shares of the company’s stock worth $584,000 after acquiring an additional 140 shares in the last quarter. Finally, Huntington National Bank lifted its stake in SouthState Bank by 23.9% during the 2nd quarter. Huntington National Bank now owns 766 shares of the company’s stock worth $70,000 after acquiring an additional 148 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Bank Price Performance

Shares of NYSE SSB opened at $95.75 on Monday. The business’s 50-day simple moving average is $91.29. The stock has a market cap of $9.62 billion, a P/E ratio of 13.17 and a beta of 0.76. SouthState Bank Corporation has a 1 year low of $77.74 and a 1 year high of $109.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.93 and a quick ratio of 0.93.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.38. SouthState Bank had a return on equity of 10.70% and a net margin of 20.25%.The firm had revenue of $698.78 million during the quarter, compared to the consensus estimate of $660.41 million. During the same period in the prior year, the company posted $1.90 earnings per share.

SouthState Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, November 7th. SouthState Bank’s dividend payout ratio (DPR) is currently 33.01%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SSB shares. DA Davidson cut their price target on shares of SouthState Bank from $117.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Piper Sandler dropped their price target on shares of SouthState Bank from $121.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, October 27th. Cowen started coverage on SouthState Bank in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of SouthState Bank in a research note on Monday, December 22nd. Finally, Barclays reduced their price target on SouthState Bank from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.07.

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.