Rhumbline Advisers increased its position in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 1.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 258,068 shares of the bank's stock after acquiring an additional 3,954 shares during the period. Rhumbline Advisers owned about 0.34% of SouthState worth $25,673,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of SSB. Creative Planning grew its position in shares of SouthState by 26.7% in the 3rd quarter. Creative Planning now owns 18,196 shares of the bank's stock valued at $1,768,000 after buying an additional 3,831 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SouthState in the 3rd quarter valued at about $35,000. International Assets Investment Management LLC boosted 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 purchasing an additional 1,443 shares in the last quarter. Nicholson Wealth Management Group LLC bought a new stake in shares of SouthState during the 3rd quarter valued at about $693,000. Finally, State of Alaska Department of Revenue boosted 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 valued at $856,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 89.76% of the company's stock.
Insider Buying and Selling at SouthState
In other news, CFO William E. V. Matthews sold 6,531 shares of the firm's 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. This trade represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by corporate insiders.
SouthState Stock Performance
NASDAQ SSB traded down $1.83 on Friday, hitting $99.53. 189,202 shares of the stock traded hands, compared to its average volume of 862,799. The business's fifty day moving average is $101.65 and its two-hundred day moving average is $100.07. SouthState Co. has a 12 month low of $70.68 and a 12 month high of $114.26. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 14.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91.
SouthState Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.17%. The ex-dividend date was Friday, February 7th. SouthState's dividend payout ratio (DPR) is 31.03%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Citigroup raised SouthState from a "neutral" rating to a "buy" rating and upped their price target for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $120.00 price objective (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Piper Sandler upped their target price on SouthState from $110.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Hovde Group lowered SouthState from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Finally, Stephens reaffirmed an "overweight" rating and issued a $130.00 target price on shares of SouthState in a report on Friday, January 24th. Two investment 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $115.44.
Check Out Our Latest Report on SouthState
SouthState 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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