SouthState Bank Corporation $SSB Shares Purchased by Liberty One Investment Management LLC

Liberty One Investment Management LLC raised its holdings in shares of SouthState Bank Corporation (NYSE:SSB) by 8.9% in the second quarter, Holdings Channel.com reports. The firm owned 8,953 shares of the company’s stock after buying an additional 731 shares during the period. Liberty One Investment Management LLC’s holdings in SouthState Bank were worth $824,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SSB. Rise Advisors LLC acquired a new position in shares of SouthState Bank in the 1st quarter worth approximately $33,000. Flaharty Asset Management LLC acquired a new position in shares of SouthState Bank in the 1st quarter worth approximately $45,000. TFC Financial Management Inc. grew its position in shares of SouthState Bank by 49,800.0% in the 2nd quarter. TFC Financial Management Inc. now owns 499 shares of the company’s stock worth $46,000 after acquiring an additional 498 shares in the last quarter. Summit Securities Group LLC grew its position in shares of SouthState Bank by 81.5% in the 1st quarter. Summit Securities Group LLC now owns 688 shares of the company’s stock worth $64,000 after acquiring an additional 309 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of SouthState Bank by 1,103.4% in the 1st quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $64,000 after acquiring an additional 640 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Transactions at SouthState Bank

In other news, insider Daniel E. Bockhorst sold 5,000 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $99.60, for a total value of $498,000.00. Following the sale, the insider owned 31,785 shares of the company’s stock, valued at approximately $3,165,786. The trade was a 13.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G Stacy Smith acquired 2,500 shares of the company’s stock in a transaction dated Friday, August 1st. The stock was purchased at an average cost of $92.30 per share, for a total transaction of $230,750.00. Following the purchase, the director directly owned 39,546 shares in the company, valued at approximately $3,650,095.80. This represents a 6.75% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 8,338 shares of company stock valued at $786,321. Corporate insiders own 1.70% of the company’s stock.

SouthState Bank Stock Up 2.3%

Shares of NYSE SSB opened at $94.62 on Tuesday. SouthState Bank Corporation has a fifty-two week low of $77.74 and a fifty-two week high of $114.26. The company’s 50-day moving average is $99.29. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $9.58 billion, a PE ratio of 14.10 and a beta of 0.68.

SouthState Bank (NYSE:SSB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.30. SouthState Bank had a net margin of 19.27% and a return on equity of 10.23%. The business had revenue of $664.77 million for the quarter, compared to analysts’ expectations of $639.47 million.

SouthState Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 8th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from SouthState Bank’s previous quarterly dividend of $0.54. SouthState Bank’s dividend payout ratio (DPR) is presently 35.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen upgraded SouthState Bank from a “sell” rating to a “hold” rating in a research report on Sunday, July 27th. DA Davidson boosted their price objective on SouthState Bank from $115.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Weiss Ratings restated a “buy (b-)” rating on shares of SouthState Bank in a research report on Wednesday, October 8th. Hovde Group boosted their price objective on SouthState Bank from $97.00 to $105.00 and gave the company a “market perform” rating in a research report on Friday, July 25th. Finally, National Bankshares set a $127.00 price objective on SouthState Bank in a research report on Wednesday, September 24th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, SouthState Bank currently has a consensus rating of “Buy” and an average price target of $117.08.

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.