Moody National Bank Trust Division Makes New $1.14 Million Investment in SouthState Bank Corporation $SSB

Moody National Bank Trust Division bought a new stake in SouthState Bank Corporation (NYSE:SSB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,102 shares of the company’s stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SSB. Mather Group LLC. acquired a new position in shares of SouthState Bank during the 3rd quarter valued at about $33,000. Global Retirement Partners LLC raised its stake in SouthState Bank by 106.8% during the third quarter. Global Retirement Partners LLC now owns 364 shares of the company’s stock worth $36,000 after purchasing an additional 188 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in SouthState Bank during the second quarter worth about $34,000. True Wealth Design LLC boosted its holdings in SouthState Bank by 37,700.0% in the 3rd quarter. True Wealth Design LLC now owns 378 shares of the company’s stock valued at $37,000 after purchasing an additional 377 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in SouthState Bank by 385.1% in the 3rd quarter. Covestor Ltd now owns 490 shares of the company’s stock valued at $49,000 after purchasing an additional 389 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SSB. Citigroup raised their price target on shares of SouthState Bank from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, January 26th. TD Cowen upped their price objective on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, January 26th. Raymond James Financial increased their price objective on SouthState Bank from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 7th. Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, DA Davidson lifted their target price on SouthState Bank from $119.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, SouthState Bank currently has an average rating of “Buy” and a consensus target price of $119.07.

SouthState Bank Stock Performance

NYSE SSB opened at $91.67 on Thursday. 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 company has a market cap of $8.99 billion, a P/E ratio of 11.66 and a beta of 0.73. The stock has a 50-day moving average of $99.00 and a two-hundred day moving average of $96.11. SouthState Bank Corporation has a 1-year low of $77.74 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.17. The business had revenue of $686.87 million for the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $1.93 earnings per share.

SouthState Bank Announces Dividend

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