CFO4Life Group LLC Buys New Shares in SouthState Co. (NASDAQ:SSB)

CFO4Life Group LLC acquired a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,311 shares of the bank's stock, valued at approximately $493,000.

Several other large investors have also recently bought and sold shares of SSB. Summit Securities Group LLC acquired a new position in SouthState in the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState during the 4th quarter valued at $45,000. Quadrant Capital Group LLC lifted its stake in shares of SouthState by 24.2% in the 4th 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. Versant Capital Management Inc boosted its holdings in SouthState by 577.4% in the first quarter. Versant Capital Management Inc now owns 569 shares of the bank's stock worth $53,000 after purchasing an additional 485 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in SouthState by 181.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 586 shares of the bank's stock worth $54,000 after buying an additional 378 shares during the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

SouthState Trading Up 0.3%

NASDAQ:SSB traded up $0.33 during trading hours on Thursday, hitting $97.73. 624,386 shares of the stock were exchanged, compared to its average volume of 749,706. The company's 50 day moving average is $90.13 and its two-hundred day moving average is $93.50. The company has a market capitalization of $9.92 billion, a P/E ratio of 14.04 and a beta of 0.77. SouthState Co. has a twelve month low of $77.74 and a twelve month high of $114.27. 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 Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.21%. SouthState's dividend payout ratio is 34.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stephens reiterated an "overweight" rating and set a $119.00 price target on shares of SouthState in a research note on Monday, April 28th. Barclays upped their target price on SouthState from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. DA Davidson lowered their target price on shares of SouthState from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Jefferies Financial Group began coverage on shares of SouthState in a research report on Wednesday, May 21st. They set a "buy" rating and a $110.00 target price for the company. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, SouthState presently has an average rating of "Buy" and an average price target of $116.45.

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.