First National Bank of Omaha Invests $2.52 Million in SouthState Bank Corporation $SSB

First National Bank of Omaha acquired a new stake in SouthState Bank Corporation (NYSE:SSB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 25,500 shares of the company’s stock, valued at approximately $2,521,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in shares of SouthState Bank by 4.6% during the first quarter. Jane Street Group LLC now owns 82,984 shares of the company’s stock worth $7,703,000 after buying an additional 3,678 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of SouthState Bank in the second quarter worth about $1,859,000. Stephens Inc. AR boosted its position in SouthState Bank by 3.2% during the second quarter. Stephens Inc. AR now owns 4,805 shares of the company’s stock worth $442,000 after acquiring an additional 151 shares during the last quarter. Ethic Inc. grew its stake in SouthState Bank by 49.6% during the 2nd quarter. Ethic Inc. now owns 4,878 shares of the company’s stock valued at $444,000 after acquiring an additional 1,617 shares in the last quarter. Finally, Tributary Capital Management LLC raised its holdings in SouthState Bank by 4.1% in the 2nd quarter. Tributary Capital Management LLC now owns 14,476 shares of the company’s stock valued at $1,332,000 after acquiring an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Price Performance

NYSE:SSB opened at $103.80 on Thursday. SouthState Bank Corporation has a 52 week low of $77.74 and a 52 week high of $108.46. The stock’s fifty day moving average is $99.43 and its two-hundred day moving average is $96.53. The company has a market capitalization of $10.43 billion, a P/E ratio of 13.21 and a beta of 0.74. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.08.

SouthState Bank (NYSE:SSB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.17. The business had revenue of $686.87 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $1.93 EPS.

SouthState Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.3%. SouthState Bank’s dividend payout ratio (DPR) is currently 30.53%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SSB shares. DA Davidson boosted their target price on SouthState Bank from $119.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Piper Sandler lowered their price objective on SouthState Bank from $121.00 to $118.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. TD Cowen upped their target price on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, January 26th. Stephens raised their target price on SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, JPMorgan Chase & Co. began coverage on shares of SouthState Bank in a research report on Friday, December 12th. They set an “overweight” rating and a $115.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $118.71.

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.