World Investment Advisors Raises Position in SouthState Bank Corporation $SSB

World Investment Advisors grew its stake in SouthState Bank Corporation (NYSE:SSB) by 183.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,531 shares of the company’s stock after purchasing an additional 8,106 shares during the period. World Investment Advisors’ holdings in SouthState Bank were worth $1,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of SSB. Rise Advisors LLC purchased a new stake in shares of SouthState Bank in the first quarter valued at $33,000. Steward Partners Investment Advisory LLC bought a new stake in SouthState Bank in the second quarter worth about $34,000. Flaharty Asset Management LLC purchased a new position in shares of SouthState Bank during the first quarter valued at approximately $45,000. TFC Financial Management Inc. grew its stake in shares of SouthState Bank by 49,800.0% during the second quarter. TFC Financial Management Inc. now owns 499 shares of the company’s stock valued at $46,000 after buying an additional 498 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in shares of SouthState Bank by 253.3% in the first quarter. Bayforest Capital Ltd now owns 756 shares of the company’s stock worth $70,000 after purchasing an additional 542 shares during the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

SouthState Bank Trading Down 0.5%

SouthState Bank stock opened at $95.75 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04. SouthState Bank Corporation has a 12 month low of $77.74 and a 12 month high of $109.64. The stock has a 50 day moving average of $91.29. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 13.17 and a beta of 0.76.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.38. The company had revenue of $698.78 million for the quarter, compared to analyst estimates of $660.41 million. SouthState Bank had a return on equity of 10.70% and a net margin of 20.25%.During the same quarter last year, the firm posted $1.90 EPS.

SouthState Bank Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a $0.60 dividend. The ex-dividend date was Friday, November 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. SouthState Bank’s dividend payout ratio is 33.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SSB shares. UBS Group decreased their target price on SouthState Bank from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Cowen began coverage on SouthState Bank in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Barclays dropped their price objective on shares of SouthState Bank from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. Citigroup lowered their price objective on SouthState Bank from $117.00 to $116.00 and set a “buy” rating for the company in a research report on Monday, October 27th. Finally, TD Cowen decreased their price target on SouthState Bank from $127.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.07.

SouthState Bank Company 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.