Fisher Asset Management LLC Has $60.04 Million Holdings in SouthState Bank Corporation $SSB

Fisher Asset Management LLC trimmed its holdings in shares of SouthState Bank Corporation (NYSE:SSB) by 23.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 607,254 shares of the company’s stock after selling 187,229 shares during the quarter. Fisher Asset Management LLC owned about 0.60% of SouthState Bank worth $60,039,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of SouthState Bank during the 3rd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC bought a new stake in shares of SouthState Bank in the second quarter valued at approximately $34,000. Global Retirement Partners LLC boosted its stake in shares of SouthState Bank by 106.8% in the third quarter. Global Retirement Partners LLC now owns 364 shares of the company’s stock valued at $36,000 after buying an additional 188 shares during the period. True Wealth Design LLC grew its position in SouthState Bank by 37,700.0% during the third quarter. True Wealth Design LLC now owns 378 shares of the company’s stock worth $37,000 after buying an additional 377 shares in the last quarter. Finally, Covestor Ltd increased its stake in SouthState Bank by 385.1% during the 3rd quarter. Covestor Ltd now owns 490 shares of the company’s stock worth $49,000 after acquiring an additional 389 shares during the period. Institutional investors own 89.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen lifted their price objective on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a report 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. Citigroup upped their price objective on shares of SouthState Bank from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Stephens increased their price objective on shares of SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, UBS Group decreased their target price on shares of SouthState Bank from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, SouthState Bank currently has an average rating of “Buy” and an average price target of $118.71.

SouthState Bank Price Performance

Shares of SSB stock opened at $99.72 on Tuesday. The business has a fifty day simple moving average of $100.23 and a 200 day simple moving average of $96.98. The company has a market cap of $9.78 billion, a P/E ratio of 12.69 and a beta of 0.73. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.03. SouthState Bank Corporation has a twelve month low of $77.74 and a twelve month high of $108.46.

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

SouthState Bank Dividend Announcement

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

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.