SouthState Co. (NASDAQ:SSB) CAO Sells $200,652.98 in Stock

SouthState Co. (NASDAQ:SSB) CAO Sara Arana sold 1,991 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the sale, the chief accounting officer now directly owns 4,787 shares of the company’s stock, valued at $482,433.86. The trade was a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SouthState Stock Down 0.9 %

SouthState stock opened at $94.63 on Thursday. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 13.60 and a beta of 0.70. The stock’s fifty day moving average is $100.99 and its two-hundred day moving average is $100.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 annualized dividend and a yield of 2.28%. SouthState’s dividend payout ratio (DPR) is currently 31.03%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SSB shares. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research report on Friday, January 24th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $106.00 to $128.00 in a research report on Monday, January 27th. Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Finally, UBS Group began coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, SouthState has an average rating of “Moderate Buy” and an average target price of $115.44.

Hedge Funds Weigh In On SouthState

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in shares of SouthState during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC purchased a new position in SouthState during the fourth quarter worth $45,000. Quadrant Capital Group LLC increased its position in SouthState by 24.2% during the fourth 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. Headlands Technologies LLC acquired a new position in shares of SouthState in the fourth quarter worth $102,000. Finally, Blue Trust Inc. lifted its position in shares of SouthState by 16.8% in 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. Institutional investors and hedge funds own 89.76% of the company’s stock.

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.