SouthState Bank Corporation $SSB Shares Acquired by Vest Financial LLC

Vest Financial LLC grew its holdings in SouthState Bank Corporation (NYSE:SSB) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,571 shares of the company’s stock after purchasing an additional 9,863 shares during the quarter. Vest Financial LLC’s holdings in SouthState Bank were worth $5,889,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SSB. Mather Group LLC. purchased a new stake in SouthState Bank in the 3rd quarter valued at approximately $33,000. Global Retirement Partners LLC boosted its position 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 acquiring an additional 188 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of SouthState Bank by 37,700.0% during the third quarter. True Wealth Design LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 377 shares during the last quarter. Covestor Ltd boosted its stake in SouthState Bank by 385.1% in the 3rd quarter. Covestor Ltd now owns 490 shares of the company’s stock worth $49,000 after buying an additional 389 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in SouthState Bank in the third quarter valued at approximately $51,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson upped their target price on SouthState Bank from $119.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citigroup upped their price objective 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. Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. TD Cowen cut their target price on SouthState Bank from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Hovde Group boosted their price objective on SouthState Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $118.36.

SouthState Bank Trading Up 0.2%

Shares of NYSE SSB opened at $98.64 on Wednesday. The firm has a market capitalization of $9.67 billion, a PE ratio of 10.62 and a beta of 0.75. SouthState Bank Corporation has a one year low of $84.47 and a one year high of $108.46. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $95.88 and a two-hundred day moving average price of $95.38.

SouthState Bank (NYSE:SSB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.21 by $0.07. The business had revenue of $661.70 million during the quarter, compared to analysts’ expectations of $669.29 million. SouthState Bank had a net margin of 24.75% and a return on equity of 10.81%. During the same period last year, the company posted $0.87 earnings per share. As a group, analysts predict that SouthState Bank Corporation will post 9.52 earnings per share for the current fiscal year.

SouthState Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be paid a $0.60 dividend. The ex-dividend date is Friday, May 8th. This represents a $2.40 dividend on an annualized basis and a yield of 2.4%. SouthState Bank’s payout ratio is 25.89%.

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.