Fisher Asset Management LLC grew its position in SouthState Bank Corporation (NYSE:SSB – Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 622,396 shares of the company’s stock after acquiring an additional 15,142 shares during the quarter. Fisher Asset Management LLC’s holdings in SouthState Bank were worth $58,574,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of SouthState Bank by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 10,937,359 shares of the company’s stock worth $1,029,315,000 after purchasing an additional 161,928 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SouthState Bank by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,666,617 shares of the company’s stock worth $461,392,000 after acquiring an additional 84,812 shares in the last quarter. Invesco Ltd. increased its position in shares of SouthState Bank by 35.6% in the third quarter. Invesco Ltd. now owns 1,591,034 shares of the company’s stock valued at $157,306,000 after buying an additional 418,031 shares in the last quarter. AQR Capital Management LLC increased its position in shares of SouthState Bank by 269.4% in the third quarter. AQR Capital Management LLC now owns 1,219,079 shares of the company’s stock valued at $120,530,000 after buying an additional 889,042 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of SouthState Bank by 3.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,155,073 shares of the company’s stock valued at $108,843,000 after buying an additional 35,184 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.
Insider Activity at SouthState Bank
In other news, Director David R. Brooks sold 14,300 shares of SouthState Bank stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $98.39, for a total value of $1,406,977.00. Following the completion of the transaction, the director owned 12,700 shares in the company, valued at approximately $1,249,553. This trade represents a 52.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.
Analyst Ratings Changes
View Our Latest Research Report on SouthState Bank
SouthState Bank Price Performance
SSB stock opened at $95.50 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.04. SouthState Bank Corporation has a 52-week low of $84.47 and a 52-week high of $108.46. The stock’s 50 day moving average is $94.68 and its two-hundred day moving average is $95.79. The company has a market capitalization of $9.33 billion, a PE ratio of 10.30 and a beta of 0.72.
SouthState Bank (NYSE:SSB – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $2.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $661.70 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the business earned $0.87 EPS. Analysts predict that SouthState Bank Corporation will post 9.48 earnings per share for the current fiscal 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 given a $0.60 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. SouthState Bank’s dividend payout ratio (DPR) is presently 25.89%.
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.
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