9,735 Shares of SouthState Bank Corporation $SSB Acquired by Partners Wealth Management LLC

Partners Wealth Management LLC bought a new position in SouthState Bank Corporation (NYSE:SSB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,735 shares of the company’s stock, valued at approximately $969,000.

Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of SouthState Bank during the second quarter valued at approximately $28,000. Root Financial Partners LLC boosted its stake in SouthState Bank by 100.0% in the 1st quarter. Root Financial Partners LLC now owns 420 shares of the company’s stock worth $39,000 after purchasing an additional 210 shares during the period. FNY Investment Advisers LLC acquired a new position in SouthState Bank in the 2nd quarter worth approximately $50,000. Trust Co. of Vermont purchased a new position in shares of SouthState Bank during the second quarter valued at $65,000. Finally, Parallel Advisors LLC grew its stake in SouthState Bank by 421.6% during the 1st quarter. Parallel Advisors LLC now owns 772 shares of the company’s stock valued at $71,000 after acquiring an additional 624 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Activity at SouthState Bank

In related news, Director David R. Brooks sold 24,650 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $110.00, for a total transaction of $2,711,500.00. Following the transaction, the director owned 7,900 shares of the company’s stock, valued at approximately $869,000. The trade was a 75.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William 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 transaction of $435,720.00. Following the transaction, the chief financial officer directly owned 40,568 shares in the company, valued at $4,419,072.24. This trade represents a 8.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,831 shares of company stock valued at $3,814,274 over the last three months. 1.70% of the stock is owned by company insiders.

SouthState Bank Price Performance

NYSE SSB opened at $105.04 on Friday. SouthState Bank Corporation has a twelve month low of $84.47 and a twelve month high of $112.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $10.19 billion, a PE ratio of 11.19 and a beta of 0.78. The stock has a 50-day simple moving average of $103.64 and a 200 day simple moving average of $100.24.

SouthState Bank (NYSE:SSB) last announced its earnings results on Wednesday, October 21st. The company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.10). The business had revenue of $685.43 million for the quarter, compared to the consensus estimate of $691.13 million. SouthState Bank had a net margin of 24.63% and a return on equity of 10.23%. During the same quarter in the previous year, the company earned $2.58 EPS. Research analysts anticipate that SouthState Bank Corporation will post 9.35 EPS for the current year.

SouthState Bank Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on SouthState Bank from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. Stephens boosted their price objective on shares of SouthState Bank from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Barclays upped their price objective on shares of SouthState Bank from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. UBS Group lowered shares of SouthState Bank from a “buy” rating to a “neutral” rating and set a $108.00 target price on the stock. in a research note on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of SouthState Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $119.00.

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.