SouthState Co. (NASDAQ:SSB) Shares Sold by Barclays PLC

Barclays PLC lessened its holdings in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,970 shares of the bank's stock after selling 3,997 shares during the period. Barclays PLC owned 0.28% of SouthState worth $21,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of SouthState by 24.2% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock worth $51,000 after buying an additional 99 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in SouthState by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the bank's stock worth $2,109,000 after purchasing an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in SouthState by 1.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,537 shares of the bank's stock worth $949,000 after purchasing an additional 112 shares during the period. Bragg Financial Advisors Inc boosted its stake in SouthState by 4.3% during the 4th quarter. Bragg Financial Advisors Inc now owns 2,776 shares of the bank's stock valued at $276,000 after purchasing an additional 115 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of SouthState by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 2,324 shares of the bank's stock valued at $231,000 after purchasing an additional 126 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SouthState

In related news, CAO Sara Arana sold 1,991 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the transaction, the chief accounting officer now owns 4,787 shares in the company, valued at $482,433.86. This trade represents a 29.37 % 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. Also, CFO William E. V. Matthews sold 6,531 shares of the firm's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the transaction, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

SouthState Stock Performance

NASDAQ SSB opened at $84.82 on Friday. The stock has a market cap of $8.60 billion, a P/E ratio of 12.19 and a beta of 0.65. 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 twelve month low of $70.68 and a twelve month high of $114.27. The company's 50-day simple moving average is $92.47 and its 200 day simple moving average is $99.16.

SouthState Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.55%. SouthState's dividend payout ratio is 31.03%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SSB. Raymond James upgraded SouthState from an "outperform" rating to a "strong-buy" rating and cut their price objective for the company from $120.00 to $115.00 in a report on Wednesday, April 2nd. Citigroup raised shares of SouthState from a "neutral" rating to a "buy" rating and upped their price target for the company from $106.00 to $128.00 in a report on Monday, January 27th. Barclays lowered their price objective on shares of SouthState from $120.00 to $115.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Stephens reissued an "overweight" rating and set a $130.00 target price on shares of SouthState in a research note on Friday, March 7th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $117.90.

SouthState 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.