SouthState Bank Corporation $SSB Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in SouthState Bank Corporation (NYSE:SSB) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,856,766 shares of the company’s stock after selling 91,613 shares during the period. American Century Companies Inc. owned about 1.85% of SouthState Bank worth $183,579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC grew its position in shares of SouthState Bank by 9,074.2% during the second quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock worth $132,125,000 after buying an additional 1,420,019 shares in the last quarter. Norges Bank bought a new position in SouthState Bank during the 2nd quarter valued at $109,029,000. Qube Research & Technologies Ltd bought a new position in SouthState Bank during the 2nd quarter valued at $81,769,000. Jane Street Group LLC grew its holdings in SouthState Bank by 810.7% during the 2nd quarter. Jane Street Group LLC now owns 755,705 shares of the company’s stock worth $69,548,000 after acquiring an additional 672,721 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of SouthState Bank by 90.8% in the 2nd quarter. Invesco Ltd. now owns 1,173,003 shares of the company’s stock worth $107,951,000 after purchasing an additional 558,252 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

SouthState Bank Price Performance

Shares of SSB opened at $98.56 on Friday. SouthState Bank Corporation has a one year low of $77.74 and a one year high of $108.46. The stock’s fifty day moving average is $100.18 and its 200-day moving average is $96.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 12.54 and a beta of 0.74.

SouthState Bank (NYSE:SSB) last announced its earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $686.87 million during the quarter, compared to analyst estimates of $667.88 million. During the same quarter in the prior year, the firm posted $1.93 EPS.

SouthState Bank Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, February 6th. SouthState Bank’s dividend payout ratio (DPR) is currently 30.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SSB shares. Raymond James Financial increased their price target on shares of 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 boosted their price objective on SouthState Bank from $116.00 to $120.00 and gave the company a “buy” rating in a report on Monday, January 26th. DA Davidson increased their target price on SouthState Bank from $119.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings upgraded SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Finally, Barclays boosted their price target on SouthState Bank from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, SouthState Bank currently has an average rating of “Buy” and a consensus price target 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.