SouthState Co. (NASDAQ:SSB) is Segall Bryant & Hamill LLC's 10th Largest Position

Segall Bryant & Hamill LLC increased its holdings in SouthState Co. (NASDAQ:SSB - Free Report) by 3.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 622,084 shares of the bank's stock after buying an additional 22,855 shares during the quarter. SouthState comprises approximately 0.8% of Segall Bryant & Hamill LLC's portfolio, making the stock its 10th biggest position. Segall Bryant & Hamill LLC owned about 0.82% of SouthState worth $60,454,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Nicholas Hoffman & Company LLC. boosted its stake in shares of SouthState by 0.6% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 19,259 shares of the bank's stock worth $1,472,000 after buying an additional 123 shares during the last quarter. Raymond James & Associates boosted its position in SouthState by 0.6% in the second quarter. Raymond James & Associates now owns 21,343 shares of the bank's stock worth $1,631,000 after purchasing an additional 126 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake 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 valued at $274,000 after purchasing an additional 186 shares during the period. 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. Finally, KBC Group NV lifted its stake in shares of SouthState by 16.3% in the 3rd quarter. KBC Group NV now owns 2,296 shares of the bank's stock worth $223,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

SouthState Price Performance

NASDAQ SSB traded down $1.55 during trading hours on Wednesday, reaching $103.54. The company's stock had a trading volume of 133,902 shares, compared to its average volume of 484,878. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $113.14. The firm's 50-day moving average price is $99.41 and its 200-day moving average price is $89.42. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 16.22 and a beta of 0.66.

SouthState (NASDAQ:SSB - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.26. The firm had revenue of $426.41 million during the quarter, compared to analyst estimates of $429.47 million. SouthState had a net margin of 21.24% and a return on equity of 9.41%. SouthState's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. On average, equities research analysts predict that SouthState Co. will post 6.92 EPS for the current fiscal year.

SouthState Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.54 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.16 annualized dividend and a dividend yield of 2.09%. SouthState's dividend payout ratio (DPR) is 33.33%.

Insider Buying and Selling

In other news, CFO William E. V. Matthews sold 5,000 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the sale, the chief financial officer now directly owns 36,964 shares in the company, valued at $3,696,400. The trade was a 11.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel E. Bockhorst sold 2,500 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares of the company's stock, valued at approximately $3,332,800. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SSB. DA Davidson boosted their target price on shares of SouthState from $102.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Truist Financial decreased their target price on SouthState from $111.00 to $103.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Citigroup began coverage on SouthState in a research report on Thursday, October 10th. They issued a "neutral" rating and a $102.00 price target for the company. Hovde Group cut SouthState from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.11.

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.