Sciencast Management LP Has $3.35 Million Stock Holdings in SouthState Bank Corporation $SSB

Sciencast Management LP lowered its stake in SouthState Bank Corporation (NYSE:SSB) by 17.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 33,580 shares of the company’s stock after selling 7,187 shares during the period. Sciencast Management LP’s holdings in SouthState Bank were worth $3,355,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Root Financial Partners LLC lifted its position in SouthState Bank by 100.0% during the first quarter. Root Financial Partners LLC now owns 420 shares of the company’s stock worth $39,000 after acquiring an additional 210 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of SouthState Bank during the second quarter worth approximately $50,000. Measured Wealth Private Client Group LLC acquired a new position in shares of SouthState Bank in the third quarter valued at approximately $51,000. GHP Investment Advisors Inc. acquired a new position in shares of SouthState Bank in the first quarter valued at approximately $52,000. Finally, Danske Bank A S bought a new position in shares of SouthState Bank during the third quarter worth approximately $59,000. 89.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen boosted their price target on SouthState Bank from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Barclays lowered their price objective on SouthState Bank from $123.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Stephens reissued an “overweight” rating and set a $116.00 target price on shares of SouthState Bank in a report on Monday, July 27th. DA Davidson reissued a “buy” rating and issued a $125.00 target price on shares of SouthState Bank in a research report on Wednesday, June 10th. Finally, Wall Street Zen downgraded shares of SouthState Bank from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.64.

SouthState Bank Price Performance

Shares of NYSE:SSB opened at $110.98 on Friday. The firm has a 50 day moving average of $101.87 and a 200-day moving average of $98.73. The stock has a market capitalization of $10.76 billion, a PE ratio of 11.67 and a beta of 0.71. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.06. SouthState Bank Corporation has a 12 month low of $84.47 and a 12 month high of $111.74.

SouthState Bank (NYSE:SSB) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The business had revenue of $672.67 million for the quarter, compared to analyst estimates of $676.83 million. SouthState Bank had a net margin of 25.09% and a return on equity of 10.67%. During the same quarter last year, the business posted $2.30 EPS. On average, equities research analysts predict that SouthState Bank Corporation will post 9.51 EPS for the current fiscal year.

SouthState Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.66 per share. The ex-dividend date is Friday, August 7th. This is a boost from SouthState Bank’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 2.4%. SouthState Bank’s dividend payout ratio is currently 27.76%.

Insider Buying and Selling at SouthState Bank

In other SouthState Bank news, Director David R. Brooks sold 24,650 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $110.00, for a total value of $2,711,500.00. Following the sale, the director owned 7,900 shares of the company’s stock, valued at approximately $869,000. This trade represents a 75.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

SouthState Bank 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.