SouthState Bank Corporation $SSB Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in SouthState Bank Corporation (NYSE:SSB) by 1,246.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,977 shares of the company’s stock after buying an additional 141,617 shares during the quarter. SG Americas Securities LLC owned 0.15% of SouthState Bank worth $14,397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SSB. Corsicana & Co. acquired a new stake in SouthState Bank in the fourth quarter valued at $113,000. Central Pacific Bank Trust Division acquired a new position in shares of SouthState Bank during the 4th quarter worth $142,000. JPMorgan Chase & Co. increased its holdings in shares of SouthState Bank by 4.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 381,059 shares of the company’s stock valued at $37,675,000 after purchasing an additional 16,974 shares in the last quarter. Allworth Financial LP increased its holdings in shares of SouthState Bank by 44.8% in the 3rd quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $190,000 after purchasing an additional 593 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of SouthState Bank by 81.1% in the third quarter. IFP Advisors Inc now owns 1,748 shares of the company’s stock valued at $173,000 after purchasing an additional 783 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Price Performance

SouthState Bank stock opened at $89.62 on Friday. The firm has a market capitalization of $8.79 billion, a PE ratio of 11.40 and a beta of 0.73. SouthState Bank Corporation has a 52 week low of $77.74 and a 52 week high of $108.46. The firm’s 50-day simple moving average is $98.68 and its 200 day simple moving average is $95.96. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.03.

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

SouthState Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, February 6th. SouthState Bank’s dividend payout ratio (DPR) is 30.53%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SSB shares. DA Davidson boosted their price objective on shares of SouthState Bank from $119.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. started coverage on shares of SouthState Bank in a report on Friday, December 12th. They issued an “overweight” rating and a $115.00 target price for the company. Citigroup lifted their price target on shares of SouthState Bank from $116.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, Hovde Group upgraded SouthState Bank from a “market perform” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, SouthState Bank presently has an average rating of “Buy” and an average target price of $119.07.

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.