United Capital Financial Advisors LLC Invests $684,000 in SouthState Bank Corporation $SSB

United Capital Financial Advisors LLC bought a new stake in SouthState Bank Corporation (NYSE:SSB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,848 shares of the company’s stock, valued at approximately $684,000.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SouthState Bank in the 2nd quarter worth about $28,000. Root Financial Partners LLC increased its stake in SouthState Bank by 100.0% in the 1st quarter. Root Financial Partners LLC now owns 420 shares of the company’s stock valued at $39,000 after buying an additional 210 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of SouthState Bank during the 2nd quarter worth approximately $50,000. Measured Wealth Private Client Group LLC bought a new position in shares of SouthState Bank during the 3rd quarter worth approximately $51,000. Finally, GHP Investment Advisors Inc. purchased a new position in shares of SouthState Bank in the 1st quarter worth approximately $52,000. 89.76% of the stock is owned by institutional investors.

SouthState Bank Stock Up 0.0%

SSB opened at $106.00 on Monday. SouthState Bank Corporation has a twelve month low of $84.47 and a twelve month high of $112.20. The company’s 50-day moving average price is $104.31 and its two-hundred day moving average price is $99.02. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of 11.15 and a beta of 0.71. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.06.

SouthState Bank (NYSE:SSB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The company had revenue of $672.67 million during the quarter, compared to analyst estimates of $676.83 million. SouthState Bank had a net margin of 25.09% and a return on equity of 10.67%. During the same quarter last year, the business posted $2.30 EPS. As a group, equities analysts expect that SouthState Bank Corporation will post 9.51 earnings per share for the current year.

SouthState Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.5%. This is a positive change from SouthState Bank’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Friday, August 7th. SouthState Bank’s dividend payout ratio is currently 27.76%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SSB. Stephens reaffirmed an “overweight” rating and issued a $116.00 target price on shares of SouthState Bank in a report on Monday, July 27th. Barclays dropped their price target on SouthState Bank from $123.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Truist Financial boosted their price objective on SouthState Bank from $108.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. TD Cowen upped their price objective on SouthState Bank from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings raised SouthState Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $119.64.

Insiders Place Their Bets

In other SouthState Bank news, Director David R. Brooks sold 24,650 shares of the business’s stock in a transaction 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 sale, the director directly owned 7,900 shares in the company, valued at $869,000. The trade was a 75.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO William E. V. Matthews sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $108.93, for a total value of $435,720.00. Following the transaction, the chief financial officer directly owned 40,568 shares in the company, valued at $4,419,072.24. This represents a 8.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 34,831 shares of company stock valued at $3,814,274 over the last three months. Company insiders own 1.70% of the company’s stock.

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.