SouthState Bank Corporation $SSB Shares Sold by Signaturefd LLC

Signaturefd LLC cut its holdings in shares of SouthState Bank Corporation (NYSE:SSB) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,534 shares of the company’s stock after selling 12,534 shares during the period. Signaturefd LLC’s holdings in SouthState Bank were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SSB. Jane Street Group LLC boosted its stake in SouthState Bank by 4.6% during the 1st quarter. Jane Street Group LLC now owns 82,984 shares of the company’s stock valued at $7,703,000 after purchasing an additional 3,678 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in SouthState Bank during the 2nd quarter valued at $34,000. M&T Bank Corp acquired a new stake in SouthState Bank during the 2nd quarter valued at $245,000. Quantbot Technologies LP acquired a new position in shares of SouthState Bank in the second quarter worth $881,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of SouthState Bank by 1,801.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 63,291 shares of the company’s stock worth $5,825,000 after acquiring an additional 59,962 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Stephens upped their price target 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. Hovde Group upgraded shares of SouthState Bank from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Thursday, March 19th. DA Davidson increased their target price on shares of SouthState Bank from $119.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Raymond James Financial increased their target price on shares of SouthState Bank from $110.00 to $115.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 7th. Finally, Citigroup increased their price target on shares of SouthState Bank from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $118.71.

SouthState Bank Stock Performance

Shares of SouthState Bank stock opened at $94.11 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $9.23 billion, a P/E ratio of 11.97 and a beta of 0.75. The firm has a 50 day simple moving average of $97.91 and a 200 day simple moving average of $95.57. SouthState Bank Corporation has a fifty-two week low of $77.74 and a fifty-two week high of $108.46.

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

SouthState Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. SouthState Bank’s dividend payout ratio (DPR) is presently 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.