CFO4Life Group LLC acquired a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,311 shares of the bank's stock, valued at approximately $493,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSB. Quadrant Capital Group LLC lifted its stake in SouthState by 24.2% in 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 during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of SouthState by 1.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,537 shares of the bank's stock worth $949,000 after purchasing an additional 112 shares during the period. Bragg Financial Advisors Inc increased its stake in SouthState by 4.3% in the fourth quarter. Bragg Financial Advisors Inc now owns 2,776 shares of the bank's stock valued at $276,000 after acquiring an additional 115 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in SouthState by 5.2% in the first quarter. Nisa Investment Advisors LLC now owns 2,368 shares of the bank's stock valued at $220,000 after acquiring an additional 118 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in SouthState by 0.5% in the fourth quarter. Independent Advisor Alliance now owns 27,914 shares of the bank's stock valued at $2,777,000 after acquiring an additional 145 shares during the last quarter. 89.76% of the stock is owned by institutional investors.
Analyst Ratings Changes
SSB has been the topic of a number of recent research reports. Raymond James Financial set a $110.00 price objective on SouthState in a research note on Monday, April 28th. Stephens reissued an "overweight" rating and issued a $119.00 target price on shares of SouthState in a research note on Monday, April 28th. Barclays raised their target price on SouthState from $115.00 to $117.00 and gave the stock an "overweight" rating in a research note on Tuesday. Truist Financial assumed coverage on SouthState in a research note on Tuesday, May 13th. They issued a "buy" rating and a $106.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their target price on SouthState from $130.00 to $120.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $116.45.
Check Out Our Latest Analysis on SSB
SouthState Stock Down 0.0%
NASDAQ SSB traded down $0.04 during mid-day trading on Friday, reaching $97.62. The stock had a trading volume of 342,932 shares, compared to its average volume of 748,151. SouthState Co. has a 1 year low of $77.74 and a 1 year high of $114.27. The stock has a market cap of $9.91 billion, a PE ratio of 14.01 and a beta of 0.77. The company has a fifty day moving average price of $90.13 and a 200 day moving average price of $93.50. 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 announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.21%. SouthState's dividend payout ratio is presently 34.12%.
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.
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