Fisher Asset Management LLC Has $84.70 Million Position in SouthState Co. (NASDAQ:SSB)

Fisher Asset Management LLC boosted its position in SouthState Co. (NASDAQ:SSB - Free Report) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 851,455 shares of the bank's stock after buying an additional 139,602 shares during the quarter. Fisher Asset Management LLC owned approximately 1.12% of SouthState worth $84,703,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC increased 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 worth $142,000 after purchasing an additional 1,443 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of SouthState by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,817 shares of the bank's stock worth $856,000 after purchasing an additional 600 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of SouthState by 7.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank's stock worth $274,000 after purchasing an additional 186 shares during the last quarter. F M Investments LLC increased its position in shares of SouthState by 2.4% during the 3rd quarter. F M Investments LLC now owns 97,876 shares of the bank's stock worth $9,512,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of SouthState by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 43,646 shares of the bank's stock worth $4,218,000 after purchasing an additional 12,471 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

SouthState Stock Performance

SSB traded down $0.87 during trading on Wednesday, hitting $94.63. The stock had a trading volume of 735,454 shares, compared to its average volume of 813,001. The company has a 50 day moving average price of $100.99 and a 200-day moving average price of $100.83. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 13.60 and a beta of 0.70. SouthState Co. has a one year low of $70.68 and a one year high of $114.26. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a $0.54 dividend. The ex-dividend date was Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.28%. SouthState's dividend payout ratio is presently 31.03%.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of SouthState stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the completion of the transaction, the chief financial officer now directly owns 34,107 shares of the company's stock, valued at $3,693,447.03. The trade was a 16.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sara Arana sold 1,991 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the transaction, the chief accounting officer now directly owns 4,787 shares of the company's stock, valued at $482,433.86. This trade represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SSB shares. Stephens reaffirmed an "overweight" rating and set a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They set a "buy" rating and a $132.00 target price for the company. Hovde Group downgraded SouthState from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. Citigroup upgraded SouthState from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $115.44.

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.