SouthState Co. (NASDAQ:SSB) Director Janet P. Froetscher Acquires 2,717 Shares of Stock

SouthState Co. (NASDAQ:SSB) Director Janet P. Froetscher bought 2,717 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average price of $92.02 per share, with a total value of $250,018.34. Following the completion of the purchase, the director now owns 4,689 shares in the company, valued at approximately $431,481.78. The trade was a 137.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SouthState Price Performance

Shares of SSB opened at $90.77 on Wednesday. The firm has a market capitalization of $9.20 billion, a PE ratio of 13.04 and a beta of 0.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $100.31 and its 200-day moving average price is $100.85. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.27.

SouthState Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, February 7th. SouthState’s dividend payout ratio is presently 31.03%.

Institutional Investors Weigh In On SouthState

A number of institutional investors and hedge funds have recently modified their holdings of the company. BIP Wealth LLC raised its stake in shares of SouthState by 605.2% during the 3rd quarter. BIP Wealth LLC now owns 31,422 shares of the bank’s stock valued at $3,054,000 after buying an additional 26,966 shares during the last quarter. Stifel Financial Corp boosted its position in SouthState by 10.5% in the 3rd quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock worth $6,178,000 after purchasing an additional 6,062 shares in the last quarter. JPMorgan Chase & Co. boosted its position in SouthState by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,894 shares of the bank’s stock worth $39,736,000 after purchasing an additional 9,863 shares in the last quarter. Fisher Asset Management LLC boosted its position in SouthState by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock worth $69,178,000 after purchasing an additional 25,495 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in SouthState in the 4th quarter worth approximately $1,008,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of SouthState in a report on Friday, March 7th. UBS Group started coverage on shares of SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective for the company. Finally, Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Two 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 company has an average rating of “Moderate Buy” and a consensus price target of $115.44.

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.