Campbell & CO Investment Adviser LLC Has $1.16 Million Stake in SouthState Bank Corporation $SSB

Campbell & CO Investment Adviser LLC decreased its position in SouthState Bank Corporation (NYSE:SSB) by 82.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,755 shares of the company’s stock after selling 55,471 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in SouthState Bank were worth $1,162,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new stake in SouthState Bank in the third quarter worth approximately $33,000. Global Retirement Partners LLC raised its holdings in shares of SouthState Bank by 106.8% during the 3rd quarter. Global Retirement Partners LLC now owns 364 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in SouthState Bank in the second quarter worth $34,000. True Wealth Design LLC increased 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 during the last quarter. Finally, TFC Financial Management Inc. increased its position in SouthState Bank by 49,800.0% during the second quarter. TFC Financial Management Inc. now owns 499 shares of the company’s stock worth $46,000 after buying an additional 498 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

SouthState Bank Price Performance

NYSE SSB opened at $98.37 on Monday. The stock has a fifty day moving average of $93.25. SouthState Bank Corporation has a 52-week low of $77.74 and a 52-week high of $109.64. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.04. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 13.53 and a beta of 0.74.

SouthState Bank (NYSE:SSB) last released its earnings results on Wednesday, October 22nd. The company reported $2.58 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $660.41 million. During the same quarter last year, the company earned $1.90 earnings per share.

SouthState Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, November 7th were given a $0.60 dividend. The ex-dividend date was Friday, November 7th. 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 33.01%.

Analysts Set New Price Targets

A number of analysts have weighed in on SSB shares. TD Cowen reduced their price target on SouthState Bank from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 7th. DA Davidson reduced their target price on SouthState Bank from $117.00 to $112.00 and set a “buy” rating for the company in a report on Friday, October 24th. Piper Sandler decreased their target price on SouthState Bank from $121.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, October 27th. Barclays dropped their price target on shares of SouthState Bank from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Finally, Stephens reduced their price objective on shares of SouthState Bank from $115.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.07.

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.