Two Sigma Securities LLC bought a new stake in shares of SouthState Co. (NASDAQ:SSB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,280 shares of the bank's stock, valued at approximately $625,000.
Several other institutional investors also recently bought and sold shares of SSB. Summit Securities Group LLC purchased a new stake in SouthState in the 4th quarter worth approximately $38,000. Quadrant Capital Group LLC lifted its holdings in SouthState by 24.2% in 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 during the period. Headlands Technologies LLC purchased a new position in shares of SouthState in the 4th quarter valued at approximately $102,000. Blue Trust Inc. boosted its position 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 purchasing an additional 167 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in SouthState in the fourth quarter worth $137,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on SSB shares. Raymond James raised SouthState from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the company from $120.00 to $115.00 in a research report on Wednesday, April 2nd. Stephens reissued an "overweight" rating and set a $119.00 price objective on shares of SouthState in a research report on Monday. Citigroup raised SouthState from a "neutral" rating to a "buy" rating and raised their price objective for the company from $106.00 to $128.00 in a research report on Monday, January 27th. DA Davidson lowered their price objective on SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday. Finally, Barclays lowered their price objective on SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Two 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 MarketBeat, SouthState presently has a consensus rating of "Moderate Buy" and an average target price of $117.10.
Read Our Latest Stock Report on SSB
SouthState Stock Performance
Shares of NASDAQ SSB traded up $0.15 during trading on Monday, reaching $87.51. 1,021,591 shares of the company traded hands, compared to its average volume of 628,456. The firm has a 50 day simple moving average of $90.63 and a 200-day simple moving average of $98.81. SouthState Co. has a 52-week low of $70.68 and a 52-week high of $114.27. The stock has a market capitalization of $8.87 billion, a PE ratio of 12.57 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 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, May 9th. SouthState's dividend payout ratio (DPR) is presently 34.12%.
Insider Buying and Selling at SouthState
In other SouthState news, Director G Stacy Smith acquired 3,100 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $93.60 per share, with a total value of $290,160.00. Following the transaction, the director now directly owns 36,779 shares in the company, valued at approximately $3,442,514.40. The trade was a 9.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William E. V. Matthews sold 6,531 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the sale, the chief financial officer now directly owns 34,107 shares of the company's stock, valued at approximately $3,693,447.03. The trade was a 16.07 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.
About SouthState
(
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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