Vise Technologies Inc. Makes New $346,000 Investment in SouthState Bank Corporation $SSB

Vise Technologies Inc. bought a new stake in SouthState Bank Corporation (NYSE:SSB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,763 shares of the company’s stock, valued at approximately $346,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSB. Alliancebernstein L.P. boosted its holdings in SouthState Bank by 44.5% in the first quarter. Alliancebernstein L.P. now owns 300,047 shares of the company’s stock valued at $27,850,000 after purchasing an additional 92,342 shares during the last quarter. Deutsche Bank AG raised its holdings in SouthState Bank by 53.6% in the first quarter. Deutsche Bank AG now owns 129,255 shares of the company’s stock valued at $11,997,000 after acquiring an additional 45,122 shares in the last quarter. Blair William & Co. IL bought a new position in SouthState Bank during the 2nd quarter valued at $252,000. Teacher Retirement System of Texas boosted its stake in SouthState Bank by 10.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,299 shares of the company’s stock valued at $2,052,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in SouthState Bank during the 1st quarter worth $251,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Stock Performance

Shares of SSB stock opened at $88.82 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The firm has a market cap of $8.93 billion, a PE ratio of 12.22 and a beta of 0.77. The firm’s fifty day moving average price is $95.49. SouthState Bank Corporation has a 1 year low of $77.74 and a 1 year high of $114.26.

SouthState Bank (NYSE:SSB) last released its earnings results on Wednesday, October 22nd. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned $1.90 earnings per share.

SouthState Bank Dividend Announcement

The firm 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 2.7%. The ex-dividend date was Friday, November 7th. SouthState Bank’s dividend payout ratio (DPR) is presently 33.01%.

Insider Transactions at SouthState Bank

In other SouthState Bank news, insider Daniel E. Bockhorst sold 5,000 shares of the company’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 transaction, the insider owned 31,785 shares of the company’s stock, valued at approximately $3,165,786. This represents a 13.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of SouthState Bank from $121.00 to $118.00 and set an “overweight” rating on the stock in a research report on Monday, October 27th. Barclays reduced their target price on SouthState Bank from $128.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. TD Cowen lowered their price target on SouthState Bank from $127.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 27th. Cowen began coverage on shares of SouthState Bank in a report on Wednesday, September 24th. They issued a “buy” rating for the company. Finally, Zacks Research cut shares of SouthState Bank from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.31.

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.