1,374 Shares in SouthState Co. (NASDAQ:SSB) Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC purchased a new stake in SouthState Co. (NASDAQ:SSB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,374 shares of the bank’s stock, valued at approximately $137,000.

A number of other hedge funds have also recently bought and sold shares of SSB. Waldron Private Wealth LLC acquired a new position in shares of SouthState during the 3rd quarter worth about $35,000. Blue Trust Inc. increased its position in SouthState by 16.8% during the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock worth $113,000 after buying an additional 167 shares during the last quarter. International Assets Investment Management LLC raised its stake in SouthState by 9,620.0% in the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after buying an additional 1,443 shares during the period. Avior Wealth Management LLC raised its stake in SouthState by 22,412.5% in the fourth quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank’s stock valued at $179,000 after buying an additional 1,793 shares during the period. Finally, Central Pacific Bank Trust Division lifted its position in shares of SouthState by 15.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank’s stock valued at $183,000 after buying an additional 250 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

SouthState Price Performance

Shares of NASDAQ SSB opened at $103.20 on Thursday. The stock has a market capitalization of $7.87 billion, a PE ratio of 14.83 and a beta of 0.70. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. 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 business has a fifty day moving average price of $102.48 and a two-hundred day moving average price of $99.85.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.09%. SouthState’s dividend payout ratio is 31.03%.

Insiders Place Their Bets

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. The trade was a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price target (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Truist Financial dropped their price objective on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of SouthState in a report on Friday, January 24th. Finally, UBS Group initiated coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective for the company. Two equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.44.

About SouthState

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.