Inspire Investing LLC increased its holdings in SouthState Co. (NASDAQ:SSB - Free Report) by 122.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,543 shares of the bank's stock after buying an additional 3,598 shares during the period. Inspire Investing LLC's holdings in SouthState were worth $651,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new stake in shares of SouthState during the 3rd quarter worth $35,000. UMB Bank n.a. increased its position in shares of SouthState by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank's stock valued at $53,000 after purchasing an additional 192 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of SouthState during the 2nd quarter valued at about $97,000. International Assets Investment Management LLC lifted its position in SouthState by 9,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank's stock worth $142,000 after buying an additional 1,443 shares during the last quarter. Finally, William B. Walkup & Associates Inc. bought a new position in SouthState during the second quarter valued at approximately $151,000. Institutional investors own 89.76% of the company's stock.
SouthState Trading Up 4.8 %
Shares of SSB traded up $4.70 during mid-day trading on Friday, hitting $103.29. 1,508,873 shares of the company's stock traded hands, compared to its average volume of 906,289. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.88 billion, a P/E ratio of 15.94 and a beta of 0.70. The business's 50-day moving average price is $103.32 and its 200-day moving average price is $98.36. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $114.26.
SouthState (NASDAQ:SSB - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.90 EPS for the quarter, topping the consensus estimate of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The firm had revenue of $426.41 million during the quarter, compared to analysts' expectations of $429.47 million. During the same period last year, the company posted $1.62 EPS. The company's quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts forecast that SouthState Co. will post 6.99 EPS for the current fiscal year.
SouthState Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be issued a $0.54 dividend. The ex-dividend date is Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.09%. SouthState's dividend payout ratio (DPR) is presently 33.33%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SSB shares. Citigroup began coverage on shares of SouthState in a research note on Thursday, October 10th. They issued a "neutral" rating and a $102.00 price objective for the company. 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 began coverage on SouthState in a report on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price objective on the stock. Stephens restated an "overweight" rating and set a $130.00 price target on shares of SouthState in a research report on Friday. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.56.
Check Out Our Latest Stock Analysis on SSB
SouthState Company Profile
(
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.
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