SouthState Bank Corporation $SSB Stake Trimmed by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC lowered its stake in SouthState Bank Corporation (NYSE:SSB) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,936 shares of the company’s stock after selling 7,936 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in SouthState Bank were worth $747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SSB. Jane Street Group LLC increased its stake in SouthState Bank by 4.6% in the 1st quarter. Jane Street Group LLC now owns 82,984 shares of the company’s stock worth $7,703,000 after purchasing an additional 3,678 shares in the last quarter. M&T Bank Corp purchased a new position in SouthState Bank in the 2nd quarter worth about $245,000. Arrowstreet Capital Limited Partnership increased its stake in SouthState Bank by 1,801.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 63,291 shares of the company’s stock worth $5,825,000 after purchasing an additional 59,962 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in SouthState Bank by 31.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock worth $176,000 after purchasing an additional 452 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in SouthState Bank in the 2nd quarter worth about $919,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Trading Down 0.1%

Shares of NYSE SSB opened at $98.07 on Thursday. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 12.48 and a beta of 0.75. The business has a 50 day simple moving average of $97.15 and a 200 day simple moving average of $95.45. SouthState Bank Corporation has a 52 week low of $82.60 and a 52 week high of $108.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.92 and a current ratio of 0.93.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.30 by $0.17. SouthState Bank had a return on equity of 10.86% and a net margin of 21.26%.The business had revenue of $686.87 million during the quarter, compared to analysts’ expectations of $667.88 million. During the same quarter in the previous year, the business posted $1.93 EPS.

SouthState Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, February 6th. SouthState Bank’s dividend payout ratio is presently 30.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SSB. Stephens lifted their price target on SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. TD Cowen lifted their target price on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. lowered their target price on SouthState Bank from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Barclays lifted their target price on SouthState Bank from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $118.71.

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.