FourThought Financial Partners LLC Invests $289,000 in SouthState Co. (NASDAQ:SSB)

FourThought Financial Partners LLC purchased a new stake in SouthState Co. (NASDAQ:SSB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,904 shares of the bank's stock, valued at approximately $289,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SSB. Bank of New York Mellon Corp increased its position in shares of SouthState by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 842,498 shares of the bank's stock worth $83,812,000 after acquiring an additional 37,796 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of SouthState by 13.8% during the 4th quarter. Handelsbanken Fonder AB now owns 18,958 shares of the bank's stock worth $1,886,000 after purchasing an additional 2,300 shares during the period. CIBC Asset Management Inc grew its position in shares of SouthState by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 2,324 shares of the bank's stock valued at $231,000 after acquiring an additional 126 shares during the period. Sanctuary Advisors LLC increased its position in SouthState by 38.8% in the fourth quarter. Sanctuary Advisors LLC now owns 3,782 shares of the bank's stock worth $401,000 after buying an additional 1,057 shares during the last quarter. Finally, Stieven Capital Advisors L.P. raised its stake in shares of SouthState by 13.6% in the fourth quarter. Stieven Capital Advisors L.P. now owns 106,200 shares of the bank's stock valued at $10,565,000 after buying an additional 12,700 shares during the period. 89.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

SSB has been the subject of several research reports. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $120.00 price target (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Stephens reiterated an "overweight" rating and set a $130.00 target price on shares of SouthState in a research report on Friday, January 24th. Hovde Group lowered shares of SouthState from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. UBS Group started coverage on shares of SouthState in a report on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price objective for the company. Finally, Citigroup raised shares of SouthState from a "neutral" rating to a "buy" rating and boosted their target price for the company from $106.00 to $128.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock 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 firm's stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the sale, the chief financial officer now owns 34,107 shares in the company, valued at $3,693,447.03. This trade represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.26% of the stock is currently owned by company insiders.

SouthState Price Performance

NASDAQ SSB traded up $1.45 during trading on Friday, reaching $100.73. The company's stock had a trading volume of 469,412 shares, compared to its average volume of 829,003. The firm has a fifty day moving average of $101.13 and a 200 day moving average of $100.64. SouthState Co. has a one year low of $70.68 and a one year high of $114.26. The stock has a market capitalization of $7.68 billion, a PE ratio of 14.47 and a beta of 0.70. 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 announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Friday, February 7th. SouthState's dividend payout ratio is currently 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.