SouthState Co. (NASDAQ:SSB - Get Free Report) CAO Sara Arana sold 1,991 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $100.78, for a total transaction of $200,652.98. Following the sale, the chief accounting officer now directly owns 4,787 shares of the company's stock, valued at $482,433.86. This trade represents a 29.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SouthState Stock Down 0.9 %
Shares of NASDAQ:SSB traded down $0.87 during trading on Wednesday, hitting $94.63. 735,454 shares of the company were exchanged, compared to its average volume of 813,001. 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 Co. has a 12-month low of $70.68 and a 12-month high of $114.26. The stock has a market capitalization of $9.59 billion, a P/E ratio of 13.60 and a beta of 0.70. The firm's 50 day moving average price is $100.99 and its 200-day moving average price is $100.83.
SouthState Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.28%. SouthState's payout ratio is 31.03%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on SSB. Citigroup upgraded shares of SouthState from a "neutral" rating to a "buy" rating and lifted their target price for the company from $106.00 to $128.00 in a research note on Monday, January 27th. UBS Group assumed coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a "buy" rating and a $132.00 target price on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and set a $120.00 target price (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Stephens reiterated an "overweight" rating and set a $130.00 price target on shares of SouthState in a report on Friday, January 24th. Finally, Hovde Group downgraded shares of SouthState from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.44.
Read Our Latest Stock Report on SSB
Institutional Trading of SouthState
A number of institutional investors and hedge funds have recently made changes to their positions in SSB. Summit Securities Group LLC acquired a new stake in SouthState in the 4th quarter valued at $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState during the fourth quarter worth about $45,000. Quadrant Capital Group LLC lifted its holdings in SouthState by 24.2% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock worth $51,000 after acquiring an additional 99 shares during the last quarter. Headlands Technologies LLC bought a new position in SouthState in the fourth quarter worth about $102,000. Finally, Blue Trust Inc. lifted its holdings in SouthState by 16.8% in the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock worth $113,000 after acquiring an additional 167 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.
About SouthState
(
Get 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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