Hunter Perkins Capital Management LLC Sells 1,255 Shares of SouthState Co. (NASDAQ:SSB)

Hunter Perkins Capital Management LLC cut its position in SouthState Co. (NASDAQ:SSB) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 32,035 shares of the bank’s stock after selling 1,255 shares during the period. Hunter Perkins Capital Management LLC’s holdings in SouthState were worth $3,187,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. KBC Group NV increased its stake in shares of SouthState by 35.3% in the fourth quarter. KBC Group NV now owns 3,106 shares of the bank’s stock valued at $309,000 after buying an additional 810 shares during the period. Blue Trust Inc. grew its holdings in SouthState by 16.8% during the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock worth $113,000 after acquiring an additional 167 shares during the last quarter. Inspire Investing LLC increased its position in SouthState by 122.2% in the 4th quarter. Inspire Investing LLC now owns 6,543 shares of the bank’s stock valued at $651,000 after acquiring an additional 3,598 shares during the period. Avior Wealth Management LLC raised its stake in shares of SouthState by 22,412.5% during the fourth quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank’s stock valued at $179,000 after acquiring an additional 1,793 shares during the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in shares of SouthState by 4.1% during the fourth quarter. Sheets Smith Wealth Management now owns 5,929 shares of the bank’s stock worth $590,000 after purchasing an additional 232 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

SouthState Stock Performance

Shares of SSB stock opened at $103.29 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. SouthState Co. has a 52 week low of $70.68 and a 52 week high of $114.26. The firm has a 50 day moving average of $103.32 and a 200-day moving average of $98.51. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 14.33 and a beta of 0.70.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.09%. SouthState’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SSB. Truist Financial decreased their price objective on SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a report on Monday, October 28th. Piper Sandler increased their price target on SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Citigroup started coverage on shares of SouthState in a research report on Thursday, October 10th. They set a “neutral” rating and a $102.00 target price for the company. Finally, UBS Group initiated coverage on shares of SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

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.