4,624 Shares in SouthState Co. (NASDAQ:SSB) Acquired by Calton & Associates Inc.

Calton & Associates Inc. purchased a new position in SouthState Co. (NASDAQ:SSB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,624 shares of the bank's stock, valued at approximately $429,000.

Several other large investors have also recently added to or reduced their stakes in SSB. Forum Financial Management LP grew its holdings in shares of SouthState by 36.5% in the 1st quarter. Forum Financial Management LP now owns 3,568 shares of the bank's stock worth $331,000 after acquiring an additional 955 shares during the last quarter. Verdence Capital Advisors LLC acquired a new position in shares of SouthState in the 1st quarter worth $388,000. Larson Financial Group LLC grew its holdings in shares of SouthState by 22,885.7% in the 1st quarter. Larson Financial Group LLC now owns 1,609 shares of the bank's stock worth $149,000 after acquiring an additional 1,602 shares during the last quarter. Trail Ridge Investment Advisors LLC acquired a new stake in shares of SouthState in the first quarter worth $256,000. Finally, Signaturefd LLC boosted its position in shares of SouthState by 12.5% in the first quarter. Signaturefd LLC now owns 13,453 shares of the bank's stock worth $1,249,000 after buying an additional 1,498 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Price Performance

SSB opened at $97.71 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a 12 month low of $77.74 and a 12 month high of $114.27. The company has a fifty day simple moving average of $91.11 and a 200 day simple moving average of $93.30. The stock has a market cap of $9.92 billion, a P/E ratio of 14.04 and a beta of 0.77.

SouthState Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 annualized dividend and a dividend yield of 2.21%. SouthState's dividend payout ratio is currently 34.12%.

Analyst Ratings Changes

A number of analysts recently issued reports on SSB shares. Barclays lifted their price objective on SouthState from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Raymond James Financial set a $110.00 price objective on SouthState in a research report on Monday, April 28th. DA Davidson reduced their price target on SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Truist Financial began coverage on SouthState in a research report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 price target for the company. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SouthState presently has an average rating of "Buy" and a consensus target price of $116.45.

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.

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