Stieven Capital Advisors L.P. Increases Stock Holdings in SouthState Co. (NASDAQ:SSB)

Stieven Capital Advisors L.P. grew its stake in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,200 shares of the bank's stock after acquiring an additional 12,700 shares during the quarter. SouthState comprises approximately 1.9% of Stieven Capital Advisors L.P.'s investment portfolio, making the stock its 25th largest holding. Stieven Capital Advisors L.P. owned about 0.14% of SouthState worth $10,565,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SSB. Waldron Private Wealth LLC acquired a new position in shares of SouthState during the third quarter valued at about $35,000. Blue Trust Inc. increased its holdings in shares of SouthState by 16.8% during the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock valued at $113,000 after acquiring an additional 167 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of SouthState during the fourth quarter valued at about $137,000. International Assets Investment Management LLC increased its holdings in shares of SouthState by 9,620.0% during the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank's stock valued at $142,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in SouthState by 22,412.5% in the 4th quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank's stock worth $179,000 after buying an additional 1,793 shares during the period. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Activity

In other SouthState 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 transaction, the chief financial officer now owns 34,107 shares in the company, valued at approximately $3,693,447.03. This trade represents a 16.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of SouthState from $110.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. UBS Group assumed coverage on shares of SouthState in a report on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price target on the stock. Hovde Group downgraded shares of SouthState from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Truist Financial cut their price target on shares of SouthState from $111.00 to $103.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $120.00 price target (up previously from $115.00) on shares of SouthState in a report on Thursday, November 7th. Two equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $115.44.

SouthState Stock Performance

SouthState stock traded down $0.59 during mid-day trading on Wednesday, hitting $102.60. The company had a trading volume of 415,695 shares, compared to its average volume of 893,403. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a 12-month low of $70.68 and a 12-month high of $114.26. The company's fifty day moving average is $102.03 and its 200-day moving average is $99.96. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 14.74 and a beta of 0.70.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were given 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 dividend yield of 2.11%. SouthState's dividend payout ratio (DPR) is 31.03%.

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.