Howard Financial Services LTD. Has $3.19 Million Stock Holdings in SouthState Bank Corporation $SSB

Howard Financial Services LTD. increased its position in shares of SouthState Bank Corporation (NYSE:SSB) by 100.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,298 shares of the company’s stock after purchasing an additional 16,149 shares during the quarter. Howard Financial Services LTD.’s holdings in SouthState Bank were worth $3,193,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC raised its holdings in shares of SouthState Bank by 9,074.2% in the second quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock valued at $132,125,000 after buying an additional 1,420,019 shares during the last quarter. Norges Bank bought a new stake in shares of SouthState Bank in the 2nd quarter valued at about $109,029,000. Qube Research & Technologies Ltd acquired a new stake in shares of SouthState Bank in the 2nd quarter valued at approximately $81,769,000. Jane Street Group LLC increased its stake in SouthState Bank by 810.7% in the second quarter. Jane Street Group LLC now owns 755,705 shares of the company’s stock valued at $69,548,000 after purchasing an additional 672,721 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in SouthState Bank by 90.8% in the second 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 period. 89.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. DA Davidson decreased their price objective on SouthState Bank from $117.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Stephens cut their price target on shares of SouthState Bank from $115.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. Barclays reduced their price target on shares of SouthState Bank from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Citigroup cut their price target on SouthState Bank from $117.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, October 27th. Finally, JPMorgan Chase & Co. assumed coverage on SouthState Bank in a research report on Friday, December 12th. They set an “overweight” rating and a $115.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.07.

SouthState Bank Stock Performance

SSB opened at $96.57 on Thursday. The stock’s 50-day moving average is $91.88. 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 company has a market capitalization of $9.71 billion, a price-to-earnings ratio of 13.28 and a beta of 0.74.

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

SouthState Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, November 7th. SouthState Bank’s payout ratio is presently 33.01%.

SouthState Bank Company 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.