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 stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares of the company’s stock, valued at $3,693,447.03. This trade represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

SouthState Trading Down 0.5 %

Shares of SSB stock opened at $105.45 on Friday. SouthState Co. has a 12 month low of $70.68 and a 12 month high of $114.26. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $103.34 and its two-hundred day moving average is $99.08. The company has a market cap of $8.05 billion, a PE ratio of 15.15 and a beta of 0.70.

SouthState Dividend Announcement

The business 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 dividend of $0.54 per share. The ex-dividend date is Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.05%. SouthState’s dividend payout ratio (DPR) is presently 31.03%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and increased their price target for the stock from $106.00 to $128.00 in a research report on Monday, January 27th. UBS Group began coverage on shares of SouthState in a research report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price target for the company. Truist Financial cut their price objective on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.44.

Hedge Funds Weigh In On SouthState

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSB. Marshall Wace LLP acquired a new position in SouthState during the second quarter valued at approximately $527,000. AQR Capital Management LLC grew its stake in shares of SouthState by 214.5% in the second quarter. AQR Capital Management LLC now owns 36,711 shares of the bank’s stock worth $2,769,000 after acquiring an additional 25,037 shares during the last quarter. Algert Global LLC acquired a new stake in shares of SouthState in the second quarter worth $587,000. Creative Planning grew its stake in shares of SouthState by 18.3% in the second quarter. Creative Planning now owns 14,365 shares of the bank’s stock worth $1,098,000 after acquiring an additional 2,225 shares during the last quarter. Finally, Dana Investment Advisors Inc. grew its stake in shares of SouthState by 14.6% in the second quarter. Dana Investment Advisors Inc. now owns 19,869 shares of the bank’s stock worth $1,518,000 after acquiring an additional 2,533 shares during the last quarter. Institutional investors and hedge funds 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.