37,891 Shares in SouthState Co. (NASDAQ:SSB) Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 37,891 shares of the bank's stock, valued at approximately $3,769,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SSB. Waldron Private Wealth LLC acquired a new stake in shares of SouthState during the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its position in shares of SouthState by 16.8% during the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock valued at $113,000 after buying an additional 167 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of SouthState by 9,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank's stock valued at $142,000 after buying an additional 1,443 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of SouthState by 22,412.5% during the 4th quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank's stock valued at $179,000 after buying an additional 1,793 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of SouthState by 15.7% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank's stock valued at $183,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

SouthState Trading Down 0.5 %

NASDAQ SSB traded down $0.46 during trading hours on Friday, reaching $102.20. The company had a trading volume of 640,497 shares, compared to its average volume of 812,275. The stock has a 50-day moving average of $102.15 and a 200 day moving average of $99.90. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.26. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $7.80 billion, a P/E ratio of 14.68 and a beta of 0.70.

SouthState Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a $0.54 dividend. The ex-dividend date was Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. SouthState's payout ratio is currently 31.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Truist Financial decreased their price objective on SouthState from $111.00 to $103.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Stephens restated an "overweight" rating and issued a $130.00 price objective on shares of SouthState in a report on Friday, January 24th. Piper Sandler raised their price objective on SouthState from $110.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, October 25th. UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price objective on the stock. Finally, Hovde Group cut shares of SouthState from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $115.44.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the sale, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is currently owned by corporate insiders.

About SouthState

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.