SouthState Co. (NASDAQ:SSB) Director G Stacy Smith Purchases 3,100 Shares

SouthState Co. (NASDAQ:SSB) Director G Stacy Smith bought 3,100 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $93.60 per share, for a total transaction of $290,160.00. Following the acquisition, the director now directly owns 36,779 shares of the company’s stock, valued at approximately $3,442,514.40. This represents a 9.20 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

SouthState Trading Down 2.2 %

SSB stock opened at $92.45 on Friday. 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 $114.26. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 13.28 and a beta of 0.68. The firm’s fifty day simple moving average is $100.86 and its two-hundred day simple moving average is $100.78.

SouthState Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, February 7th. SouthState’s dividend payout ratio (DPR) is 31.03%.

Analyst Ratings Changes

Several equities analysts have recently commented 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Stephens reaffirmed an “overweight” rating and set a $130.00 price target on shares of SouthState in a research note on Friday, January 24th. 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 research note on Monday, January 27th. Finally, UBS Group initiated coverage on shares of SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.44.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SSB. Summit Securities Group LLC bought a new position in shares of SouthState in the fourth quarter worth about $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState in the fourth quarter worth about $45,000. Quadrant Capital Group LLC grew its holdings in shares of 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 purchasing an additional 99 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of SouthState in the fourth quarter worth about $102,000. Finally, Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 167 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

SouthState Company 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.