Stieven Capital Advisors L.P. Acquires 12,700 Shares of SouthState Co. (NASDAQ:SSB)

Stieven Capital Advisors L.P. boosted its holdings in SouthState Co. (NASDAQ:SSB) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,200 shares of the bank’s stock after acquiring an additional 12,700 shares during the quarter. SouthState accounts for about 1.9% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 25th biggest position. Stieven Capital Advisors L.P. owned about 0.14% of SouthState worth $10,565,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of SouthState by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,820,303 shares of the bank’s stock valued at $176,931,000 after purchasing an additional 31,340 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in SouthState by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock valued at $95,999,000 after purchasing an additional 72,181 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in SouthState by 4.9% in the third quarter. The Manufacturers Life Insurance Company now owns 731,802 shares of the bank’s stock valued at $71,117,000 after buying an additional 34,194 shares in the last quarter. Fisher Asset Management LLC grew its stake in SouthState by 3.7% during the third quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock worth $69,178,000 after buying an additional 25,495 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of SouthState by 3.8% during the third quarter. Segall Bryant & Hamill LLC now owns 622,084 shares of the bank’s stock worth $60,454,000 after buying an additional 22,855 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SSB shares. Piper Sandler boosted their target price on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and increased their target price for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. Truist Financial lowered their price objective 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. Finally, UBS Group started coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, SouthState currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

SouthState Stock Down 0.5 %

Shares of NASDAQ SSB opened at $102.20 on Friday. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $114.26. The firm’s 50-day moving average is $102.15 and its 200-day moving average is $99.90. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $7.80 billion, a PE ratio of 14.68 and a beta of 0.70.

SouthState Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. SouthState’s payout ratio is presently 31.03%.

Insiders Place Their Bets

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the transaction, the chief financial officer now owns 34,107 shares in the company, valued at approximately $3,693,447.03. This trade represents a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.26% 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.