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

SouthState Co. (NASDAQ:SSB) CAO Sara Arana sold 1,991 shares of the company’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 completion of the sale, the chief accounting officer now owns 4,787 shares of the company’s stock, valued at $482,433.86. This represents a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SouthState Trading Down 3.6 %

Shares of NASDAQ:SSB opened at $95.64 on Wednesday. The business’s 50-day moving average is $101.10 and its 200 day moving average is $100.80. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $114.26. The firm has a market capitalization of $9.69 billion, a P/E ratio of 13.74 and a beta of 0.70. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. SouthState’s dividend payout ratio is currently 31.03%.

Analysts Set New Price Targets

SSB has been the subject of several research reports. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of SouthState in a report on Friday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Citigroup raised SouthState from a “neutral” rating to a “buy” rating and boosted 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 SouthState in a research report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price target for the company. Finally, Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in SouthState by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 1,913,615 shares of the bank’s stock valued at $192,531,000 after buying an additional 93,312 shares in the last quarter. Northern Trust Corp increased its position in SouthState by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,111,758 shares of the bank’s stock valued at $110,598,000 after buying an additional 95,841 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in SouthState by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,039,891 shares of the bank’s stock valued at $103,448,000 after buying an additional 52,042 shares in the last quarter. Fisher Asset Management LLC increased its position in SouthState by 19.6% during the 4th quarter. Fisher Asset Management LLC now owns 851,455 shares of the bank’s stock valued at $84,703,000 after buying an additional 139,602 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in SouthState by 4.7% during the 4th quarter. Bank of New York Mellon Corp now owns 842,498 shares of the bank’s stock valued at $83,812,000 after buying an additional 37,796 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

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.