Stephens Inc. AR Has $442,000 Stock Position in SouthState Bank Corporation $SSB

Stephens Inc. AR grew its stake in shares of SouthState Bank Corporation (NYSE:SSB) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,805 shares of the company’s stock after purchasing an additional 151 shares during the period. Stephens Inc. AR’s holdings in SouthState Bank were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SSB. Blue Trust Inc. raised its holdings in shares of SouthState Bank by 12.4% in the 2nd quarter. Blue Trust Inc. now owns 991 shares of the company’s stock worth $91,000 after acquiring an additional 109 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of SouthState Bank by 14.2% in the 1st quarter. IFP Advisors Inc now owns 943 shares of the company’s stock worth $87,000 after acquiring an additional 117 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of SouthState Bank by 5.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,368 shares of the company’s stock worth $220,000 after acquiring an additional 118 shares during the last quarter. Nicholson Wealth Management Group LLC raised its holdings in shares of SouthState Bank by 1.8% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 7,201 shares of the company’s stock worth $663,000 after acquiring an additional 125 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of SouthState Bank by 14.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,090 shares of the company’s stock worth $100,000 after acquiring an additional 134 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD Cowen assumed coverage on shares of SouthState Bank in a research report on Thursday, September 25th. They issued a “buy” rating and a $127.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $117.00 price objective (up from $113.00) on shares of SouthState Bank in a research report on Monday, July 28th. Hovde Group upped their price objective on shares of SouthState Bank from $97.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SouthState Bank in a research report on Friday. Finally, Cowen assumed coverage on shares of SouthState Bank in a research report on Wednesday, September 24th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, SouthState Bank currently has an average rating of “Buy” and an average price target of $117.08.

SouthState Bank Trading Up 0.7%

SSB opened at $90.53 on Friday. The business has a 50 day simple moving average of $98.94. The company has a market cap of $9.16 billion, a P/E ratio of 12.45 and a beta of 0.68. SouthState Bank Corporation has a 12 month low of $77.74 and a 12 month high of $114.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 0.93.

SouthState Bank (NYSE:SSB) last posted its earnings results on Wednesday, October 22nd. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.38. SouthState Bank had a net margin of 20.25% and a return on equity of 10.70%. The business had revenue of $698.78 million for the quarter, compared to analysts’ expectations of $660.41 million. During the same period in the prior year, the company posted $1.90 EPS.

SouthState Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, November 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, November 7th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. SouthState Bank’s dividend payout ratio (DPR) is 33.01%.

Insider Activity

In other SouthState Bank news, Director Janet P. Froetscher bought 3,338 shares of SouthState Bank stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price of $97.31 per share, with a total value of $324,820.78. Following the acquisition, the director owned 8,294 shares in the company, valued at approximately $807,089.14. This trade represents a 67.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Stacy Smith bought 2,500 shares of SouthState Bank stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $92.30 per share, for a total transaction of $230,750.00. Following the acquisition, the director owned 39,546 shares in the company, valued at $3,650,095.80. The trade was a 6.75% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 8,338 shares of company stock worth $786,321. 1.70% of the stock is currently owned by corporate insiders.

SouthState Bank Profile

SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.