SouthState Co. (NASDAQ:SSB) Shares Purchased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH grew its holdings in shares of SouthState Co. (NASDAQ:SSB) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 201,229 shares of the bank’s stock after purchasing an additional 34,080 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.26% of SouthState worth $20,018,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SSB. Assenagon Asset Management S.A. bought a new stake in SouthState in the fourth quarter valued at $21,498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SouthState by 64.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,578 shares of the bank’s stock valued at $25,809,000 after purchasing an additional 103,756 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new position in SouthState during the 3rd quarter valued at about $9,086,000. Charles Schwab Investment Management Inc. grew its position in SouthState by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock worth $95,999,000 after purchasing an additional 72,181 shares during the last quarter. Finally, Prospector Partners LLC increased its stake in shares of SouthState by 52.8% in the third quarter. Prospector Partners LLC now owns 185,250 shares of the bank’s stock valued at $18,003,000 after purchasing an additional 64,013 shares during the period. 89.76% of the stock is currently owned by institutional investors.

SouthState Stock Down 1.3 %

NASDAQ SSB opened at $99.55 on Thursday. SouthState Co. has a 12 month low of $70.68 and a 12 month high of $114.26. The company has a market capitalization of $7.59 billion, a P/E ratio of 15.36 and a beta of 0.70. The company’s 50 day simple moving average is $103.53 and its 200 day simple moving average is $98.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91.

SouthState (NASDAQ:SSB) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.26. The company had revenue of $426.41 million for the quarter, compared to analysts’ expectations of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. Equities research analysts expect that SouthState Co. will post 6.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price target for the company. Truist Financial cut their price objective on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price target on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, SouthState presently has an average rating of “Moderate Buy” and a consensus price target of $112.56.

SouthState Company 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 offers checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits, as well as bond accounting, asset/liability consulting related activities, and other clearing and corporate checking account services.