7,522 Shares in SouthState Bank Corporation $SSB Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC bought a new position in SouthState Bank Corporation (NYSE:SSB) during the 4th quarter, HoldingsChannel reports. The fund bought 7,522 shares of the company’s stock, valued at approximately $708,000.

Other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in SouthState Bank by 4.6% in the first quarter. Jane Street Group LLC now owns 82,984 shares of the company’s stock valued at $7,703,000 after acquiring an additional 3,678 shares in the last quarter. M&T Bank Corp bought a new stake in SouthState Bank in the second quarter valued at $245,000. Arrowstreet Capital Limited Partnership boosted its holdings in SouthState Bank by 1,801.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 63,291 shares of the company’s stock valued at $5,825,000 after acquiring an additional 59,962 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in SouthState Bank by 31.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock valued at $176,000 after acquiring an additional 452 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in SouthState Bank in the second quarter valued at $919,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

SouthState Bank Price Performance

Shares of NYSE:SSB opened at $92.49 on Tuesday. SouthState Bank Corporation has a fifty-two week low of $84.47 and a fifty-two week high of $108.46. The business has a 50-day simple moving average of $95.02 and a two-hundred day simple moving average of $95.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 9.98 and a beta of 0.70.

SouthState Bank (NYSE:SSB) last released its quarterly earnings results on Thursday, April 23rd. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.21 by $0.07. The firm had revenue of $661.70 million during the quarter, compared to analyst estimates of $669.29 million. SouthState Bank had a net margin of 24.75% and a return on equity of 10.81%. During the same quarter in the prior year, the firm earned $0.87 EPS. On average, analysts expect that SouthState Bank Corporation will post 9.49 earnings per share for the current year.

SouthState Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, May 8th. SouthState Bank’s dividend payout ratio is currently 25.89%.

Insider Activity at SouthState Bank

In other news, Director David R. Brooks sold 14,300 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $98.39, for a total transaction of $1,406,977.00. Following the completion of the transaction, the director directly owned 12,700 shares in the company, valued at approximately $1,249,553. This represents a 52.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Hovde Group boosted their target price on shares of SouthState Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, April 27th. TD Cowen dropped their target price on shares of SouthState Bank from $117.00 to $114.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Weiss Ratings cut shares of SouthState Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Truist Financial dropped their target price on shares of SouthState Bank from $110.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SouthState Bank from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $118.62.

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.