Leeward Investments LLC MA Has $10.96 Million Stock Position in SouthState Bank Corporation $SSB

Leeward Investments LLC MA boosted its stake in SouthState Bank Corporation (NYSE:SSB) by 32.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,759 shares of the company’s stock after acquiring an additional 26,754 shares during the period. Leeward Investments LLC MA’s holdings in SouthState Bank were worth $10,965,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. FJ Capital Management LLC raised its stake in SouthState Bank by 54.0% during the fourth quarter. FJ Capital Management LLC now owns 813,033 shares of the company’s stock worth $76,515,000 after buying an additional 285,091 shares during the last quarter. NFJ Investment Group LLC acquired a new position in SouthState Bank in the fourth quarter valued at $30,930,000. Y Intercept Hong Kong Ltd bought a new stake in SouthState Bank during the first quarter valued at $4,898,000. Geode Capital Management LLC boosted its position in SouthState Bank by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,866,033 shares of the company’s stock valued at $175,653,000 after acquiring an additional 85,981 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in SouthState Bank by 350.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 22,315 shares of the company’s stock worth $2,100,000 after acquiring an additional 17,365 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SSB. Citigroup lifted their price objective on SouthState Bank from $115.00 to $126.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Piper Sandler raised their target price on SouthState Bank from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Weiss Ratings raised SouthState Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 14th. UBS Group lowered SouthState Bank from a “buy” rating to a “neutral” rating and set a $108.00 price target on the stock. in a research note on Tuesday, July 7th. Finally, Fundamental Research set a $120.00 price target on SouthState Bank in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SouthState Bank has a consensus rating of “Moderate Buy” and a consensus target price of $119.64.

SouthState Bank Price Performance

SSB stock opened at $110.98 on Friday. The stock has a market capitalization of $10.76 billion, a PE ratio of 11.67 and a beta of 0.71. The company’s 50-day moving average is $101.87 and its 200-day moving average is $98.73. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.93. SouthState Bank Corporation has a 1 year low of $84.47 and a 1 year high of $111.74.

SouthState Bank (NYSE:SSB) last issued its earnings results on Thursday, July 23rd. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. SouthState Bank had a return on equity of 10.67% and a net margin of 25.09%.The business had revenue of $672.67 million during the quarter, compared to analyst estimates of $676.83 million. During the same period in the previous year, the company posted $2.30 EPS. Equities research analysts expect that SouthState Bank Corporation will post 9.51 EPS for the current fiscal year.

SouthState Bank Increases Dividend

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

Insider Activity at SouthState Bank

In other news, Director David R. Brooks sold 24,650 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 7,900 shares in the company, valued at $869,000. The trade was a 75.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.