SouthState Co. (NASDAQ:SSB) CAO Sara Arana Sells 1,991 Shares of Stock

SouthState Co. (NASDAQ:SSB) CAO Sara Arana sold 1,991 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the transaction, the chief accounting officer now directly owns 4,787 shares of the company’s stock, valued at $482,433.86. The trade was a 29.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SouthState Stock Down 1.6 %

SSB stock opened at $99.17 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. SouthState Co. has a 52-week low of $70.68 and a 52-week high of $114.26. The company has a 50-day moving average of $101.13 and a two-hundred day moving average of $100.73. The stock has a market capitalization of $10.05 billion, a price-to-earnings ratio of 14.25 and a beta of 0.70.

SouthState Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, February 7th. SouthState’s payout ratio is presently 31.03%.

Institutional Investors Weigh In On SouthState

Several hedge funds have recently made changes to their positions in SSB. International Assets Investment Management LLC lifted its stake in shares of SouthState by 9,620.0% in the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after buying an additional 1,443 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of SouthState by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 8,817 shares of the bank’s stock valued at $856,000 after buying an additional 600 shares during the period. Chicago Partners Investment Group LLC lifted 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 valued at $274,000 after buying an additional 186 shares during the period. Van ECK Associates Corp lifted its stake in shares of SouthState by 40.0% in the third quarter. Van ECK Associates Corp now owns 43,646 shares of the bank’s stock valued at $4,218,000 after buying an additional 12,471 shares during the period. Finally, Consolidated Planning Corp bought a new stake in shares of SouthState in the third quarter valued at about $1,139,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SSB. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price target (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of SouthState in a research note on Friday, January 24th. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Citigroup raised SouthState from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $106.00 to $128.00 in a report on Monday, January 27th. Finally, UBS Group started coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.44.

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.