First National Bank of Omaha Invests $15.42 Million in SouthState Bank Corporation $SSB

First National Bank of Omaha bought a new position in SouthState Bank Corporation (NYSE:SSB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 154,272 shares of the company’s stock, valued at approximately $15,420,000.

A number of other institutional investors have also recently bought and sold shares of SSB. Nicholas Hoffman & Company LLC. boosted its holdings in shares of SouthState Bank by 0.7% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 16,527 shares of the company’s stock valued at $1,555,000 after purchasing an additional 111 shares during the last quarter. Cetera Investment Advisers raised its position in shares of SouthState Bank by 0.6% in the 1st quarter. Cetera Investment Advisers now owns 18,959 shares of the company’s stock worth $1,754,000 after buying an additional 116 shares during the period. HB Wealth Management LLC boosted its holdings in SouthState Bank by 0.7% in the first quarter. HB Wealth Management LLC now owns 18,045 shares of the company’s stock valued at $1,670,000 after acquiring an additional 129 shares during the last quarter. MML Investors Services LLC grew its position in SouthState Bank by 5.9% during the fourth quarter. MML Investors Services LLC now owns 2,360 shares of the company’s stock valued at $222,000 after acquiring an additional 131 shares during the period. Finally, FourThought Financial Partners LLC increased its stake in SouthState Bank by 5.8% during the fourth quarter. FourThought Financial Partners LLC now owns 2,544 shares of the company’s stock worth $239,000 after acquiring an additional 139 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSB. DA Davidson restated a “buy” rating and issued a $125.00 price objective on shares of SouthState Bank in a report on Wednesday, June 10th. Stephens restated an “overweight” rating and issued a $116.00 price target on shares of SouthState Bank in a report on Monday, July 27th. Weiss Ratings raised shares of SouthState Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 14th. Truist Financial raised their target price on shares of SouthState Bank from $108.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Barclays reduced their target price on shares of SouthState Bank from $123.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $119.64.

SouthState Bank Stock Performance

Shares of SSB stock opened at $110.17 on Wednesday. SouthState Bank Corporation has a 12 month low of $84.47 and a 12 month high of $112.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a market capitalization of $10.68 billion, a P/E ratio of 11.58 and a beta of 0.71. The company’s fifty day moving average price is $102.81 and its two-hundred day moving average price is $98.94.

SouthState Bank (NYSE:SSB) last announced its earnings results on Thursday, July 23rd. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. SouthState Bank had a return on equity of 10.67% and a net margin of 25.09%.The company had revenue of $672.67 million during the quarter, compared to the consensus estimate of $676.83 million. During the same period last year, the firm earned $2.30 earnings per share. On average, research analysts anticipate that SouthState Bank Corporation will post 9.51 earnings per share for the current fiscal year.

SouthState Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a dividend of $0.66 per share. This is a boost from SouthState Bank’s previous quarterly dividend of $0.60. The ex-dividend date was Friday, August 7th. This represents a $2.64 dividend on an annualized basis and a yield of 2.4%. SouthState Bank’s payout ratio is 27.76%.

Insider Transactions at SouthState Bank

In other SouthState Bank news, Director David R. Brooks sold 24,650 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $110.00, for a total value of $2,711,500.00. Following the transaction, the director directly owned 7,900 shares of the company’s stock, valued at $869,000. This represents a 75.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.70% of the stock is owned by corporate insiders.

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.