SG Americas Securities LLC Has $973,000 Stock Position in SouthState Bank Corporation $SSB

SG Americas Securities LLC lowered its holdings in shares of SouthState Bank Corporation (NYSE:SSB) by 93.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,520 shares of the company’s stock after selling 142,457 shares during the period. SG Americas Securities LLC’s holdings in SouthState Bank were worth $973,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SSB. Measured Wealth Private Client Group LLC bought a new stake in SouthState Bank in the third quarter valued at approximately $51,000. Danske Bank A S bought a new position in shares of SouthState Bank during the 3rd quarter worth approximately $59,000. Harbour Investments Inc. bought a new position in shares of SouthState Bank during the 4th quarter worth approximately $68,000. Torren Management LLC acquired a new position in shares of SouthState Bank during the 4th quarter worth approximately $69,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of SouthState Bank during the 3rd quarter worth approximately $72,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Activity

In other news, Director David R. Brooks sold 14,300 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $98.39, for a total value of $1,406,977.00. Following the completion of the sale, the director owned 12,700 shares of the company’s stock, valued at approximately $1,249,553. The trade was a 52.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

SouthState Bank Price Performance

Shares of NYSE SSB opened at $100.03 on Friday. The firm has a market cap of $9.77 billion, a P/E ratio of 10.79 and a beta of 0.70. The business’s 50 day moving average is $96.32 and its 200-day moving average is $97.19. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.04. SouthState Bank Corporation has a 1-year low of $84.47 and a 1-year high of $108.46.

SouthState Bank (NYSE:SSB) last released its quarterly earnings results on Thursday, April 23rd. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.07. SouthState Bank had a return on equity of 10.81% and a net margin of 24.75%.The business had revenue of $661.70 million during the quarter, compared to the consensus estimate of $669.28 million. During the same period in the previous year, the company posted $0.87 EPS. Equities research analysts predict that SouthState Bank Corporation will post 9.51 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 issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. SouthState Bank’s dividend payout ratio (DPR) is currently 25.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSB. TD Cowen dropped their price target on SouthState Bank from $117.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. JPMorgan Chase & Co. lifted their price objective on shares of SouthState Bank from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial decreased their price objective 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. Hovde Group increased their price objective on shares of SouthState Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Monday, April 27th. Finally, Weiss Ratings cut shares of SouthState Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $118.71.

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.