Callahan Advisors LLC acquired a new stake in SouthState Co. (NASDAQ:SSB - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,056 shares of the bank's stock, valued at approximately $284,000.
A number of other large investors have also added to or reduced their stakes in SSB. Westwood Holdings Group Inc. raised its holdings in SouthState by 2,221.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 727,341 shares of the bank's stock valued at $72,356,000 after buying an additional 696,014 shares during the last quarter. Norges Bank bought a new position in SouthState during the 4th quarter worth approximately $67,260,000. Capital Research Global Investors bought a new position in SouthState during the 4th quarter worth approximately $60,311,000. JPMorgan Chase & Co. raised its holdings in SouthState by 51.4% during the 4th quarter. JPMorgan Chase & Co. now owns 618,913 shares of the bank's stock worth $61,569,000 after purchasing an additional 210,019 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in SouthState by 14.4% during the 1st quarter. Bank of New York Mellon Corp now owns 964,089 shares of the bank's stock worth $89,487,000 after purchasing an additional 121,591 shares during the last quarter. Institutional investors own 89.76% of the company's stock.
SouthState Trading Down 0.7%
Shares of SSB stock traded down $0.64 during trading hours on Friday, hitting $97.01. 792,190 shares of the company were exchanged, compared to its average volume of 749,516. The firm has a market cap of $9.85 billion, a P/E ratio of 13.94 and a beta of 0.77. SouthState Co. has a fifty-two week low of $77.74 and a fifty-two week high of $114.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day simple moving average of $90.29 and a two-hundred day simple moving average of $93.47.
SouthState Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, May 9th. SouthState's payout ratio is currently 34.12%.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Barclays raised their price target on shares of SouthState from $115.00 to $117.00 and gave the stock an "overweight" rating in a report on Tuesday. Stephens restated an "overweight" rating and set a $119.00 price target on shares of SouthState in a report on Monday, April 28th. Jefferies Financial Group assumed coverage on shares of SouthState in a report on Wednesday, May 21st. They set a "buy" rating and a $110.00 price target for the company. Keefe, Bruyette & Woods lowered their price target on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, DA Davidson lowered their price target on shares of SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, SouthState currently has a consensus rating of "Buy" and a consensus price target of $116.45.
Read Our Latest Analysis on SSB
SouthState Profile
(
Free Report)
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.
Further Reading
Before you consider SouthState, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SouthState wasn't on the list.
While SouthState currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
