G Stacy Smith Purchases 3,100 Shares of SouthState Co. (NASDAQ:SSB) Stock

SouthState Co. (NASDAQ:SSB) Director G Stacy Smith purchased 3,100 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of $93.60 per share, with a total value of $290,160.00. Following the completion of the transaction, the director now owns 36,779 shares of the company’s stock, valued at approximately $3,442,514.40. This trade represents a 9.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

SouthState Price Performance

SSB stock opened at $93.03 on Friday. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $114.26. The company has a market cap of $9.43 billion, a P/E ratio of 13.37 and a beta of 0.68. The firm has a 50-day moving average of $100.67 and a 200 day moving average of $100.72. 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 Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. SouthState’s payout ratio is currently 31.03%.

Hedge Funds Weigh In On SouthState

Institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in SouthState in the fourth quarter worth about $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState during the fourth quarter valued at approximately $45,000. Quadrant Capital Group LLC increased its stake in shares of SouthState by 24.2% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank’s stock valued at $51,000 after purchasing an additional 99 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of SouthState during the fourth quarter valued at approximately $102,000. Finally, Blue Trust Inc. increased its stake in shares of SouthState by 16.8% during the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after purchasing an additional 167 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SSB has been the subject of a number of analyst reports. Citigroup upgraded shares of 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 target price on shares of SouthState in a report on Friday. UBS Group initiated coverage on shares of SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Finally, Hovde Group lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.44.

About SouthState

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.