Tributary Capital Management LLC decreased its holdings in SouthState Co. (NASDAQ:SSB - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 202,534 shares of the bank's stock after selling 71,256 shares during the quarter. Tributary Capital Management LLC owned approximately 0.27% of SouthState worth $20,148,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of SSB. Chicago Partners Investment Group LLC lifted its position in shares of SouthState by 7.0% during the third quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank's stock worth $274,000 after purchasing an additional 186 shares during the last quarter. UMB Bank n.a. raised its stake in SouthState by 53.9% during the third quarter. UMB Bank n.a. now owns 548 shares of the bank's stock worth $53,000 after acquiring an additional 192 shares during the period. Sheets Smith Wealth Management boosted its stake in SouthState by 4.1% in the fourth quarter. Sheets Smith Wealth Management now owns 5,929 shares of the bank's stock valued at $590,000 after acquiring an additional 232 shares during the period. Central Pacific Bank Trust Division grew its holdings in shares of SouthState by 15.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank's stock valued at $183,000 after purchasing an additional 250 shares during the last quarter. Finally, KBC Group NV raised its position in shares of SouthState by 16.3% during 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. Institutional investors and hedge funds own 89.76% of the company's stock.
SouthState Trading Up 4.8 %
Shares of NASDAQ:SSB traded up $4.70 during mid-day trading on Friday, hitting $103.29. The stock had a trading volume of 1,508,873 shares, compared to its average volume of 906,289. SouthState Co. has a 12-month low of $70.68 and a 12-month high of $114.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market cap of $7.88 billion, a PE ratio of 15.94 and a beta of 0.70. The company's 50 day moving average is $103.32 and its 200-day moving average is $98.36.
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, beating analysts' consensus estimates of $1.64 by $0.26. The company had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, sell-side analysts predict that SouthState Co. will post 6.99 EPS for the current year.
SouthState Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.09%. SouthState's dividend payout ratio is 33.33%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on SSB shares. Citigroup began coverage on SouthState in a research note on Thursday, October 10th. They issued a "neutral" rating and a $102.00 target price on the stock. Hovde Group downgraded SouthState from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 13th. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They issued a "buy" rating and a $132.00 price target for the company. Keefe, Bruyette & Woods restated 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. Finally, Truist Financial lowered 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.56.
View Our Latest Stock Analysis on SSB
SouthState Company 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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