5,798 Shares in SouthState Bank Corporation $SSB Bought by MBL Wealth LLC

MBL Wealth LLC bought a new stake in SouthState Bank Corporation (NYSE:SSB) in the 3rd quarter, Holdings Channel.com reports. The fund bought 5,798 shares of the company’s stock, valued at approximately $577,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in SouthState Bank in the second quarter valued at approximately $28,000. Root Financial Partners LLC boosted its position in shares of 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 buying an additional 210 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of SouthState Bank during the second quarter worth $50,000. GHP Investment Advisors Inc. purchased a new position in shares of SouthState Bank during the first quarter worth $52,000. Finally, Trust Co. of Vermont acquired a new stake in shares of SouthState Bank in the second quarter valued at $65,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Price Performance

SouthState Bank stock opened at $105.73 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.11. SouthState Bank Corporation has a 52-week low of $84.47 and a 52-week high of $112.20. The firm has a market cap of $10.25 billion, a PE ratio of 11.26 and a beta of 0.78. The company’s 50 day moving average is $103.94 and its two-hundred day moving average is $100.88.

SouthState Bank (NYSE:SSB) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.10). The business had revenue of $685.43 million during the quarter, compared to analyst estimates of $691.13 million. SouthState Bank had a return on equity of 10.23% and a net margin of 24.63%. During the same quarter last year, the firm earned $2.58 EPS. On average, research analysts expect that SouthState Bank Corporation will post 9.44 EPS for the current fiscal year.

SouthState Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a $0.66 dividend. The ex-dividend date is Friday, November 6th. This represents a $2.64 dividend on an annualized basis and a yield of 2.5%. SouthState Bank’s dividend payout ratio (DPR) is 28.12%.

Insiders Place Their Bets

In related news, Director David Brooks sold 24,650 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $110.00, for a total transaction of $2,711,500.00. Following the completion of the transaction, the director directly owned 7,900 shares of the company’s stock, valued at $869,000. The trade was a 75.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William E. V. Matthews sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $108.93, for a total value of $435,720.00. Following the transaction, the chief financial officer directly owned 40,568 shares of the company’s stock, valued at $4,419,072.24. The trade was a 8.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 34,831 shares of company stock valued at $3,814,274. 1.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of SouthState Bank in a report on Monday, October 12th. Barclays increased their target price on SouthState Bank from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, October 5th. UBS Group cut SouthState Bank from a “buy” rating to a “neutral” rating and set a $108.00 target price for the company. in a report on Tuesday, July 7th. Truist Financial dropped their target price on SouthState Bank from $118.00 to $113.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, TD Cowen cut their price target on shares of SouthState Bank from $120.00 to $116.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, SouthState Bank presently has a consensus rating of “Buy” and an average target price of $118.54.

SouthState Bank Company Profile

SouthState Bank is a regional banking institution and the principal banking subsidiary of SouthState Corporation (NYSE: SSB). The bank provides financial services to individuals, families, businesses and institutions, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards and online and mobile banking.

SouthState also offers business banking and treasury-management services, commercial real estate lending, equipment financing, wealth management and investment services.