Boston Partners Has $26.09 Million Position in SouthState Co. (NASDAQ:SSB)

Boston Partners increased its holdings in SouthState Co. (NASDAQ:SSB - Free Report) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 262,236 shares of the bank's stock after purchasing an additional 5,873 shares during the period. Boston Partners owned approximately 0.34% of SouthState worth $26,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its stake in shares of SouthState by 16.8% in the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock valued at $113,000 after purchasing an additional 167 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in SouthState in the fourth quarter valued at about $137,000. Avior Wealth Management LLC grew its stake in SouthState by 22,412.5% during the fourth quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank's stock worth $179,000 after buying an additional 1,793 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of SouthState by 15.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank's stock worth $183,000 after buying an additional 250 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in shares of SouthState in the third quarter valued at approximately $214,000. Institutional investors own 89.76% of the company's stock.

Insiders Place Their Bets

In related news, Director G Stacy Smith bought 3,100 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $93.60 per share, for a total transaction of $290,160.00. Following the completion of the acquisition, the director now owns 36,779 shares of the company's stock, valued at approximately $3,442,514.40. The trade was a 9.20 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Janet P. Froetscher purchased 2,717 shares of SouthState stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $92.02 per share, with a total value of $250,018.34. Following the completion of the transaction, the director now directly owns 4,689 shares of the company's stock, valued at approximately $431,481.78. The trade was a 137.78 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.70% of the company's stock.

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Analysts Set New Price Targets

SSB has been the topic of a number of research analyst reports. UBS Group assumed coverage on SouthState in a research report on Tuesday, December 17th. They set a "buy" rating and a $132.00 price target on the stock. Stephens restated an "overweight" rating and issued a $130.00 target price on shares of SouthState in a research note on Friday, March 7th. Finally, Citigroup raised SouthState from a "neutral" rating to a "buy" rating and lifted their price target for the company from $106.00 to $128.00 in a report on Monday, January 27th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.44.

SouthState Stock Up 2.8 %

Shares of SouthState stock traded up $2.60 on Monday, hitting $95.05. The company had a trading volume of 701,069 shares, compared to its average volume of 556,794. The stock has a 50-day moving average of $99.41 and a 200-day moving average of $100.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. SouthState Co. has a twelve month low of $70.68 and a twelve month high of $114.27. The firm has a market capitalization of $9.63 billion, a P/E ratio of 13.66 and a beta of 0.68.

SouthState Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.27%. The ex-dividend date was Friday, February 7th. SouthState's payout ratio is 31.03%.

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.