1,374 Shares in SouthState Co. (NASDAQ:SSB) Bought by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC bought a new stake in SouthState Co. (NASDAQ:SSB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,374 shares of the bank’s stock, valued at approximately $137,000.

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

SouthState Price Performance

Shares of NASDAQ SSB opened at $103.20 on Thursday. 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’s 50-day moving average price is $102.48 and its 200-day moving average price is $99.85. The firm has a market capitalization of $7.87 billion, a P/E ratio of 14.83 and a beta of 0.70. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.26.

SouthState Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be issued a $0.54 dividend. The ex-dividend date is Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.09%. SouthState’s payout ratio is currently 31.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SSB. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research note on Friday, January 24th. UBS Group assumed coverage on shares of SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price objective on the stock. Hovde Group cut shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Piper Sandler upped their price target on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Insider Buying and Selling at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total value of $707,241.99. Following the sale, the chief financial officer now owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

SouthState 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.