First National Bank of Omaha Makes New Investment in SouthState Bank Corporation $SSB

First National Bank of Omaha acquired a new stake in SouthState Bank Corporation (NYSE:SSB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,500 shares of the company’s stock, valued at approximately $2,521,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sheets Smith Wealth Management boosted its holdings in SouthState Bank by 1.7% during the 3rd quarter. Sheets Smith Wealth Management now owns 6,456 shares of the company’s stock valued at $638,000 after acquiring an additional 111 shares during the period. Blue Trust Inc. increased its stake in SouthState Bank by 11.2% during the third quarter. Blue Trust Inc. now owns 1,102 shares of the company’s stock worth $109,000 after purchasing an additional 111 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of SouthState Bank by 4.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,480 shares of the company’s stock worth $245,000 after purchasing an additional 115 shares in the last quarter. Huntington National Bank boosted its stake in shares of SouthState Bank by 23.9% in the second quarter. Huntington National Bank now owns 766 shares of the company’s stock valued at $70,000 after purchasing an additional 148 shares during the period. Finally, Keybank National Association OH boosted its stake in shares of SouthState Bank by 2.7% in the third quarter. Keybank National Association OH now owns 5,690 shares of the company’s stock valued at $563,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

SouthState Bank Stock Performance

Shares of SSB stock opened at $103.80 on Thursday. The company has a market cap of $10.43 billion, a P/E ratio of 13.21 and a beta of 0.74. The firm has a fifty day moving average price of $99.43 and a 200 day moving average price of $96.53. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. SouthState Bank Corporation has a 12 month low of $77.74 and a 12 month high of $108.46.

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

SouthState Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, February 6th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, February 6th. SouthState Bank’s dividend payout ratio is 30.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on SSB shares. Weiss Ratings raised shares of SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. TD Cowen boosted their price target on shares of SouthState Bank from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Barclays upped their price objective on SouthState Bank from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Raymond James Financial lifted their target price on SouthState Bank from $110.00 to $115.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 7th. Finally, Piper Sandler cut their price target on SouthState Bank from $121.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price 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.