Cutter & CO Brokerage Inc. bought a new stake in shares of SouthState Co. (NASDAQ:SSB – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,580 shares of the bank’s stock, valued at approximately $207,000.
Several other large investors have also recently bought and sold shares of SSB. Principal Financial Group Inc. boosted its holdings in shares of SouthState by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 6,057 shares of the bank’s stock valued at $485,000 after acquiring an additional 160 shares during the period. Liberty Wealth Management LLC boosted its holdings in shares of SouthState by 102.5% in the third quarter. Liberty Wealth Management LLC now owns 328 shares of the bank’s stock valued at $26,000 after acquiring an additional 166 shares during the period. Donald L. Hagan LLC boosted its holdings in shares of SouthState by 1.0% in the fourth quarter. Donald L. Hagan LLC now owns 19,378 shares of the bank’s stock valued at $1,552,000 after acquiring an additional 197 shares during the period. Pitcairn Co. boosted its holdings in shares of SouthState by 3.7% in the third quarter. Pitcairn Co. now owns 6,013 shares of the bank’s stock valued at $449,000 after acquiring an additional 216 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of SouthState by 8.7% during the third quarter. HighTower Advisors LLC now owns 3,201 shares of the bank’s stock worth $240,000 after purchasing an additional 256 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised SouthState from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, March 30th. Raymond James increased their price target on SouthState from $92.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, April 6th. StockNews.com raised SouthState from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Stephens increased their price target on SouthState from $76.00 to $84.50 and gave the stock an “equal weight” rating in a report on Wednesday, January 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, SouthState has an average rating of “Buy” and a consensus price target of $84.54.
NASDAQ:SSB opened at $75.40 on Friday. The stock has a fifty day moving average price of $80.54 and a two-hundred day moving average price of $82.60. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 12.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.86 and a current ratio of 0.83. SouthState Co. has a 1 year low of $62.60 and a 1 year high of $93.34.
SouthState (NASDAQ:SSB – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The bank reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.38. The firm had revenue of $347.56 million during the quarter, compared to analysts’ expectations of $349.97 million. SouthState had a return on equity of 10.33% and a net margin of 30.19%. SouthState’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 earnings per share. On average, analysts predict that SouthState Co. will post 6.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, May 13th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 12th. SouthState’s dividend payout ratio is currently 32.45%.
SouthState Company Profile (Get Rating)
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 accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.
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