De Lisle Partners LLP Invests $253,000 in SouthState Co. (NASDAQ:SSB)

De Lisle Partners LLP bought a new position in SouthState Co. (NASDAQ:SSB) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,601 shares of the bank’s stock, valued at approximately $253,000.

Several other large investors have also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. raised its holdings in SouthState by 0.6% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 19,259 shares of the bank’s stock valued at $1,472,000 after buying an additional 123 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of SouthState by 0.6% during the second quarter. Raymond James & Associates now owns 21,343 shares of the bank’s stock worth $1,631,000 after purchasing an additional 126 shares during the period. Chicago Partners Investment Group LLC grew its stake in shares of SouthState by 7.0% in the third quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank’s stock worth $274,000 after purchasing an additional 186 shares during the last quarter. UMB Bank n.a. increased its holdings in SouthState by 53.9% in the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after purchasing an additional 192 shares during the period. Finally, KBC Group NV lifted its holdings in SouthState by 16.3% during the 3rd quarter. KBC Group NV now owns 2,296 shares of the bank’s stock worth $223,000 after buying an additional 321 shares during the period. 89.76% of the stock is currently owned by institutional investors.

Insider Activity at SouthState

In other news, insider Daniel E. Bockhorst sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares of the company’s stock, valued at $3,332,800. This represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the transaction, the chief financial officer now owns 36,964 shares in the company, valued at approximately $3,696,400. The trade was a 11.91 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

SouthState Price Performance

Shares of SSB opened at $111.25 on Friday. The stock has a market cap of $8.49 billion, a P/E ratio of 17.17 and a beta of 0.66. The business’s fifty day moving average is $101.02 and its 200 day moving average is $90.56. 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 12-month low of $70.68 and a 12-month high of $114.26.

SouthState (NASDAQ:SSB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The firm had revenue of $426.41 million during the quarter, compared to analysts’ expectations of $429.47 million. During the same period last year, the company earned $1.62 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that SouthState Co. will post 6.94 earnings per share for the current fiscal year.

SouthState Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.54 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.94%. SouthState’s dividend payout ratio is presently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SSB shares. Piper Sandler lifted their price objective on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Truist Financial dropped their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Stephens lifted their price objective on SouthState from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.11.

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.