SouthState Co. (NASDAQ:SSB) CFO William E. V. Matthews Sells 6,531 Shares

SouthState Co. (NASDAQ:SSB) CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the transaction, the chief financial officer now directly owns 34,107 shares of the company’s stock, valued at $3,693,447.03. The trade was a 16.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

SouthState Trading Down 0.6 %

NASDAQ SSB opened at $105.88 on Friday. The stock has a 50-day moving average of $103.41 and a 200-day moving average of $98.95. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.26. The firm has a market cap of $8.08 billion, a PE ratio of 16.34 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 paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, February 7th. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

Several brokerages have issued reports on SSB. Truist Financial dropped their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research report on Monday, October 28th. UBS Group started coverage on shares of SouthState in a research report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and raised their price target for the company from $106.00 to $128.00 in a research report on Monday. Piper Sandler upped their price objective on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Two 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, SouthState has an average rating of “Moderate Buy” and an average price target of $115.44.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Stieven Capital Advisors L.P. increased its holdings in SouthState by 13.6% during the 4th quarter. Stieven Capital Advisors L.P. now owns 106,200 shares of the bank’s stock valued at $10,565,000 after purchasing an additional 12,700 shares during the period. Rhumbline Advisers grew its position in shares of SouthState by 1.6% in the 4th quarter. Rhumbline Advisers now owns 258,068 shares of the bank’s stock worth $25,673,000 after buying an additional 3,954 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of SouthState by 34.1% during the fourth quarter. Van ECK Associates Corp now owns 58,540 shares of the bank’s stock valued at $5,824,000 after buying an additional 14,894 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of SouthState by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the bank’s stock valued at $2,109,000 after acquiring an additional 100 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in SouthState in the fourth quarter worth $137,000. Institutional investors own 89.76% of the company’s stock.

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.