First National Bank of Omaha Purchases 59,277 Shares of SouthState Bank Corporation $SSB

First National Bank of Omaha lifted its position in shares of SouthState Bank Corporation (NYSE:SSB) by 232.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 84,777 shares of the company’s stock after buying an additional 59,277 shares during the quarter. First National Bank of Omaha’s holdings in SouthState Bank were worth $8,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in SouthState Bank by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 10,937,359 shares of the company’s stock worth $1,029,315,000 after buying an additional 161,928 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SouthState Bank by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,729,496 shares of the company’s stock worth $445,101,000 after buying an additional 62,879 shares in the last quarter. Geode Capital Management LLC grew its position in SouthState Bank by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 1,866,033 shares of the company’s stock worth $175,653,000 after buying an additional 85,981 shares in the last quarter. Franklin Resources Inc. grew its position in SouthState Bank by 1.0% during the fourth quarter. Franklin Resources Inc. now owns 1,623,728 shares of the company’s stock worth $152,809,000 after buying an additional 15,787 shares in the last quarter. Finally, Invesco Ltd. grew its position in SouthState Bank by 35.6% during the third quarter. Invesco Ltd. now owns 1,591,034 shares of the company’s stock worth $157,306,000 after buying an additional 418,031 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SSB. TD Cowen reduced their price target on SouthState Bank from $117.00 to $114.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Barclays reduced their price target on SouthState Bank from $126.00 to $123.00 and set an “overweight” rating on the stock in a research report on Monday, April 27th. Hovde Group raised their target price on shares of SouthState Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Truist Financial decreased their target price on shares of SouthState Bank from $110.00 to $108.00 and set a “buy” rating on the stock in a report on Monday, April 27th. Finally, DA Davidson restated a “buy” rating and issued a $125.00 target price on shares of SouthState Bank in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $118.62.

Insider Buying and Selling at SouthState Bank

In other SouthState Bank news, Director David R. Brooks sold 14,300 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $98.39, for a total value of $1,406,977.00. Following the sale, the director owned 12,700 shares of the company’s stock, valued at approximately $1,249,553. This trade represents a 52.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

SouthState Bank Trading Up 1.3%

Shares of SSB stock opened at $98.75 on Friday. The stock’s fifty day moving average price is $95.81 and its two-hundred day moving average price is $96.41. The company has a market cap of $9.65 billion, a PE ratio of 10.65 and a beta of 0.70. SouthState Bank Corporation has a fifty-two week low of $84.47 and a fifty-two week high of $108.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.92 and a current ratio of 0.93.

SouthState Bank (NYSE:SSB) last issued its earnings results on Thursday, April 23rd. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.07. The firm had revenue of $661.70 million for the quarter, compared to the consensus estimate of $669.29 million. SouthState Bank had a return on equity of 10.81% and a net margin of 24.75%.During the same quarter last year, the business posted $0.87 EPS. Equities analysts predict that SouthState Bank Corporation will post 9.49 EPS for the current fiscal year.

SouthState Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 8th. SouthState Bank’s dividend payout ratio (DPR) is currently 25.89%.

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.