SouthState Bank Corporation $SSB Shares Sold by Howard Financial Services LTD.

Howard Financial Services LTD. decreased its stake in shares of SouthState Bank Corporation (NYSE:SSB) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,149 shares of the company’s stock after selling 16,149 shares during the period. Howard Financial Services LTD.’s holdings in SouthState Bank were worth $1,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of SouthState Bank by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,775,431 shares of the company’s stock worth $1,065,367,000 after acquiring an additional 130,358 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of SouthState Bank by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 4,666,617 shares of the company’s stock valued at $461,392,000 after acquiring an additional 84,812 shares during the period. Invesco Ltd. raised its holdings in SouthState Bank by 35.6% during the third quarter. Invesco Ltd. now owns 1,591,034 shares of the company’s stock worth $157,306,000 after purchasing an additional 418,031 shares in the last quarter. Laurel Wealth Advisors LLC raised its holdings in SouthState Bank by 9,074.2% during the second quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock worth $132,125,000 after purchasing an additional 1,420,019 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in SouthState Bank by 269.4% in the third quarter. AQR Capital Management LLC now owns 1,219,079 shares of the company’s stock worth $120,530,000 after purchasing an additional 889,042 shares during the period. 89.76% of the stock is currently owned by institutional investors.

SouthState Bank Price Performance

NYSE SSB opened at $91.06 on Wednesday. SouthState Bank Corporation has a 1 year low of $77.74 and a 1 year high of $108.46. The business’s fifty day moving average is $99.12 and its two-hundred day moving average is $96.14. The stock has a market capitalization of $8.93 billion, a P/E ratio of 11.58 and a beta of 0.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.92 and a current ratio of 0.93.

SouthState Bank (NYSE:SSB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $2.47 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.86% and a net margin of 21.26%.During the same period last year, the company posted $1.93 EPS.

SouthState Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were given a $0.60 dividend. The ex-dividend date was Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. SouthState Bank’s dividend payout ratio (DPR) is 30.53%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SSB shares. Weiss Ratings upgraded SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Stephens upped their price objective on SouthState Bank from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Hovde Group raised SouthState Bank from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Thursday, March 19th. Barclays boosted their price target on shares of SouthState Bank from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, TD Cowen boosted their price target on shares of SouthState Bank from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, SouthState Bank has an average rating of “Buy” and an average price target of $119.07.

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.