SouthState Co. (NASDAQ:SSB) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its position in shares of SouthState Co. (NASDAQ:SSB) by 46.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,830 shares of the bank’s stock after buying an additional 1,842 shares during the period. Crossmark Global Holdings Inc.’s holdings in SouthState were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSB. Nicholas Hoffman & Company LLC. grew its holdings in shares of SouthState by 0.6% during the second quarter. Nicholas Hoffman & Company LLC. now owns 19,259 shares of the bank’s stock worth $1,472,000 after buying an additional 123 shares during the last quarter. Raymond James & Associates grew its position in SouthState by 0.6% in the 2nd quarter. Raymond James & Associates now owns 21,343 shares of the bank’s stock valued at $1,631,000 after buying an additional 126 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of SouthState by 7.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank’s stock worth $274,000 after acquiring an additional 186 shares during the period. UMB Bank n.a. boosted its holdings in shares of SouthState by 53.9% in the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after acquiring an additional 192 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of SouthState by 120.7% in the second quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock valued at $47,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Analysts Set New Price Targets

SSB has been the subject of a number of recent analyst reports. DA Davidson raised their price objective on shares of SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Stephens upped their price target on SouthState from $101.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Citigroup initiated coverage on SouthState in a report on Thursday, October 10th. They set a “neutral” rating and a $102.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $105.11.

SouthState Trading Down 0.5 %

Shares of SSB opened at $105.98 on Friday. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $113.14. The stock has a fifty day moving average of $98.93 and a two-hundred day moving average of $88.87. 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 capitalization of $8.09 billion, a PE ratio of 16.35 and a beta of 0.66.

SouthState (NASDAQ:SSB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.26. The firm 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 revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 earnings per share. As a group, analysts forecast that SouthState Co. will post 6.92 EPS for the current year.

SouthState Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.54 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.16 annualized dividend and a dividend yield of 2.04%. SouthState’s dividend payout ratio is presently 33.33%.

Insider Activity at SouthState

In other SouthState news, CFO William E. V. Matthews sold 5,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares in the company, valued at $3,696,400. This represents a 11.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel E. Bockhorst sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the insider now directly owns 33,328 shares of the company’s stock, valued at approximately $3,332,800. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

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.