Howard Financial Services LTD. Has $1.52 Million Stock Position in SouthState Bank Corporation $SSB

Howard Financial Services LTD. lowered its position in shares of SouthState Bank Corporation (NYSE:SSB) by 50.0% during the fourth quarter, Holdings Channel reports. The fund owned 16,149 shares of the company’s stock after selling 16,149 shares during the quarter. Howard Financial Services LTD.’s holdings in SouthState Bank were worth $1,520,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SSB. Jane Street Group LLC boosted 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 during the period. Cetera Investment Advisers raised its stake in SouthState Bank by 3.5% during the 2nd quarter. Cetera Investment Advisers now owns 14,242 shares of the company’s stock valued at $1,311,000 after purchasing an additional 486 shares during the period. Entropy Technologies LP lifted its holdings in shares of SouthState Bank by 121.1% in the second quarter. Entropy Technologies LP now owns 5,986 shares of the company’s stock valued at $551,000 after purchasing an additional 3,279 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of SouthState Bank by 3.5% in the second quarter. Legal & General Group Plc now owns 164,521 shares of the company’s stock valued at $15,140,000 after purchasing an additional 5,633 shares in the last quarter. Finally, Jefferies Financial Group Inc. boosted its position in shares of SouthState Bank by 748.3% in the second quarter. Jefferies Financial Group Inc. now owns 25,864 shares of the company’s stock worth $2,380,000 after buying an additional 22,815 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

SSB has been the topic of a number of research analyst reports. Raymond James Financial lifted their price target on SouthState Bank from $110.00 to $115.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. assumed coverage on SouthState Bank in a research note on Friday, December 12th. They issued an “overweight” rating and a $115.00 price objective for the company. TD Cowen raised their price objective on SouthState Bank from $115.00 to $120.00 and gave the stock a “buy” rating in a research 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. Finally, Hovde Group raised shares of SouthState Bank from a “market perform” rating to an “outperform” rating and set a $110.00 price target for the company in a research report on Thursday, March 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, SouthState Bank has an average rating of “Buy” and a consensus target price of $119.07.

SouthState Bank Trading Up 0.5%

SouthState Bank stock opened at $91.06 on Wednesday. SouthState Bank Corporation has a 12 month low of $77.74 and a 12 month high of $108.46. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.03. The stock has a market cap of $8.93 billion, a P/E ratio of 11.58 and a beta of 0.73. The company’s fifty day simple moving average is $99.12 and its 200-day simple moving average is $96.14.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $667.88 million. During the same period last year, the company earned $1.93 earnings per share.

SouthState Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, February 6th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. SouthState Bank’s dividend payout ratio (DPR) is 30.53%.

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.