12,102 Shares in SouthState Bank Corporation $SSB Acquired by Moody National Bank Trust Division

Moody National Bank Trust Division purchased a new position in shares of SouthState Bank Corporation (NYSE:SSB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,102 shares of the company’s stock, valued at approximately $1,139,000.

Several other large investors have also modified their holdings of SSB. Fort Washington Investment Advisors Inc. OH boosted its stake in SouthState Bank by 52.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 250,083 shares of the company’s stock worth $24,723,000 after purchasing an additional 86,234 shares during the period. CWM LLC increased its stake in SouthState Bank by 689.1% in the third quarter. CWM LLC now owns 91,288 shares of the company’s stock valued at $9,026,000 after purchasing an additional 79,719 shares during the period. HBK Sorce Advisory LLC increased its stake in SouthState Bank by 100.1% in the third quarter. HBK Sorce Advisory LLC now owns 32,944 shares of the company’s stock valued at $3,192,000 after purchasing an additional 16,482 shares during the period. Signaturefd LLC raised its holdings in shares of SouthState Bank by 101.0% in the third quarter. Signaturefd LLC now owns 25,068 shares of the company’s stock valued at $2,478,000 after buying an additional 12,597 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of SouthState Bank in the third quarter valued at about $1,190,000. 89.76% of the stock is owned by institutional investors and hedge funds.

SouthState Bank Price Performance

SouthState Bank stock opened at $91.67 on Thursday. The company has a market cap of $8.99 billion, a P/E ratio of 11.66 and a beta of 0.73. SouthState Bank Corporation has a one year low of $77.74 and a one year high of $108.46. The business has a fifty day moving average of $99.00 and a two-hundred day moving average of $96.11. 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 posted its quarterly earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.17. SouthState Bank had a net margin of 21.26% and a return on equity of 10.86%. The business had revenue of $686.87 million for the quarter, compared to analysts’ expectations of $667.88 million. During the same period in the prior year, the company posted $1.93 EPS.

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 issued 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 yield of 2.6%. SouthState Bank’s payout ratio is currently 30.53%.

Wall Street Analysts Forecast Growth

SSB has been the topic of a number of research reports. Stephens raised their price target on SouthState Bank from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. TD Cowen upped their price objective on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Raymond James Financial increased their price objective on SouthState Bank from $110.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 7th. Citigroup lifted their target price on SouthState Bank from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Weiss Ratings raised SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a report 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $119.07.

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.