Hantz Financial Services Inc. reduced its stake in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,982 shares of the bank's stock after selling 2,967 shares during the quarter. Hantz Financial Services Inc.'s holdings in SouthState were worth $3,579,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in SouthState during the 4th quarter worth approximately $21,498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of SouthState by 64.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,578 shares of the bank's stock worth $25,809,000 after acquiring an additional 103,756 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new position in shares of SouthState in the 3rd quarter worth approximately $9,086,000. Charles Schwab Investment Management Inc. grew its position in shares of SouthState by 7.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank's stock worth $95,999,000 after acquiring an additional 72,181 shares in the last quarter. Finally, Prospector Partners LLC boosted its position in SouthState by 52.8% during the 3rd quarter. Prospector Partners LLC now owns 185,250 shares of the bank's stock valued at $18,003,000 after purchasing an additional 64,013 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CFO William E. V. Matthews sold 6,531 shares of the company'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 approximately $3,693,447.03. This represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by insiders.
SouthState Price Performance
SSB traded down $2.27 during trading on Monday, hitting $103.32. The company's stock had a trading volume of 311,186 shares, compared to its average volume of 1,093,875. The firm's 50 day moving average price is $103.34 and its two-hundred day moving average price is $99.21. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a 12 month low of $70.68 and a 12 month high of $114.26. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 14.88 and a beta of 0.70.
SouthState Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.09%. SouthState's dividend payout ratio (DPR) is presently 31.03%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Citigroup upgraded SouthState from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $106.00 to $128.00 in a research report on Monday, January 27th. Piper Sandler boosted their price objective on SouthState from $110.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price objective on the stock. Hovde Group lowered SouthState from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Finally, Stephens reaffirmed an "overweight" rating and set a $130.00 target price on shares of SouthState in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.44.
Check Out Our Latest Stock Report on SouthState
About SouthState
(
Free Report)
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.
See Also
Before you consider SouthState, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SouthState wasn't on the list.
While SouthState currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
