SouthState Bank Corporation $SSB Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL trimmed its holdings in shares of SouthState Bank Corporation (NYSE:SSB) by 96.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,324 shares of the company’s stock after selling 68,509 shares during the quarter. Tudor Investment Corp ET AL’s holdings in SouthState Bank were worth $230,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SSB. Jane Street Group LLC raised its stake in SouthState Bank by 4.6% in the 1st quarter. Jane Street Group LLC now owns 82,984 shares of the company’s stock valued at $7,703,000 after purchasing an additional 3,678 shares during the last quarter. M&T Bank Corp acquired a new position in SouthState Bank in the 2nd quarter valued at $245,000. Arrowstreet Capital Limited Partnership raised its stake in SouthState Bank by 1,801.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 63,291 shares of the company’s stock valued at $5,825,000 after purchasing an additional 59,962 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in SouthState Bank by 31.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock valued at $176,000 after purchasing an additional 452 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in SouthState Bank in the 2nd quarter valued at $919,000. 89.76% of the stock is owned by institutional investors and hedge funds.

SouthState Bank Stock Up 2.6%

Shares of NYSE:SSB opened at $99.91 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $96.81 and a two-hundred day moving average of $95.46. The stock has a market cap of $9.80 billion, a P/E ratio of 12.71 and a beta of 0.75. SouthState Bank Corporation has a 52-week low of $82.60 and a 52-week high of $108.46.

SouthState Bank (NYSE:SSB) last issued its earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.17. The company had revenue of $686.87 million during the quarter, compared to analysts’ expectations of $667.88 million. SouthState Bank had a return on equity of 10.86% and a net margin of 21.26%.During the same period in the prior year, the business earned $1.93 EPS.

SouthState Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, February 6th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, February 6th. SouthState Bank’s dividend payout ratio is presently 30.53%.

Analyst Ratings Changes

Several research analysts recently commented on SSB shares. Stephens increased their price objective on SouthState Bank from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. DA Davidson increased their price objective on SouthState Bank from $119.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Citigroup increased their price objective on SouthState Bank from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Barclays increased their price objective on SouthState Bank from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Monday, January 26th. Finally, TD Cowen increased their price objective on SouthState Bank from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, SouthState Bank currently has an average rating of “Buy” and a consensus price target of $118.71.

About SouthState Bank

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.