Hantz Financial Services Inc. Sells 2,967 Shares of SouthState Co. (NASDAQ:SSB)

Hantz Financial Services Inc. decreased its holdings in SouthState Co. (NASDAQ:SSB) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 35,982 shares of the bank’s stock after selling 2,967 shares during the period. Hantz Financial Services Inc.’s holdings in SouthState were worth $3,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Waldron Private Wealth LLC bought a new stake in shares of SouthState in the 3rd quarter valued at about $35,000. UMB Bank n.a. boosted its position in shares of SouthState by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after purchasing an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in SouthState during the second quarter worth approximately $97,000. Blue Trust Inc. increased its holdings in SouthState by 16.8% in the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock worth $113,000 after purchasing an additional 167 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of SouthState in a research report on Friday, January 24th. Piper Sandler raised their target price on SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Citigroup raised SouthState from a “neutral” rating to a “buy” rating and upped their price target for the stock from $106.00 to $128.00 in a research note on Monday. Truist Financial reduced their price objective on SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $115.44.

SouthState Trading Down 0.6 %

Shares of SouthState stock opened at $105.88 on Friday. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $114.26. The stock has a fifty day moving average price of $103.41 and a 200-day moving average price of $98.95. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market cap of $8.08 billion, a PE ratio of 16.34 and a beta of 0.70.

SouthState Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 dividend on an annualized basis and a dividend yield of 2.04%. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at SouthState

In other news, CFO William E. V. Matthews sold 6,531 shares of SouthState 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 completion of the transaction, the chief financial officer now owns 34,107 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

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.