Css LLC Il Invests $3.08 Million in SouthState Co. (NASDAQ:SSB)

CSS LLC IL bought a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,968 shares of the bank's stock, valued at approximately $3,081,000.

Several other large investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SouthState by 3.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,027 shares of the bank's stock valued at $27,360,000 after acquiring an additional 9,449 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake 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 purchasing an additional 696,014 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in SouthState in the 4th quarter valued at about $4,170,000. Twinbeech Capital LP bought a new position in SouthState during the fourth quarter worth about $280,000. Finally, ProShare Advisors LLC increased its position in SouthState by 41.2% during the fourth quarter. ProShare Advisors LLC now owns 24,990 shares of the bank's stock worth $2,486,000 after buying an additional 7,295 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Insiders Place Their Bets

In other news, CAO Sara Arana sold 1,991 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $100.78, for a total value of $200,652.98. Following the completion of the transaction, the chief accounting officer now owns 4,787 shares of the company's stock, valued at approximately $482,433.86. This represents a 29.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Stacy Smith purchased 3,100 shares of SouthState stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $93.60 per share, for a total transaction of $290,160.00. Following the completion of the purchase, the director now owns 36,779 shares in the company, valued at $3,442,514.40. This represents a 9.20% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company's stock.

SouthState Stock Performance

SouthState stock traded down $0.32 during midday trading on Monday, hitting $87.60. The company's stock had a trading volume of 1,017,808 shares, compared to its average volume of 651,828. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 12.59 and a beta of 0.75. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.27. The company has a 50-day moving average price of $88.36 and a two-hundred day moving average price of $97.42.

SouthState Announces Dividend

The business also recently disclosed 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 2.47%. SouthState's dividend payout ratio (DPR) is presently 34.12%.

Analyst Ratings Changes

SSB has been the subject of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and issued a $119.00 price objective on shares of SouthState in a research report on Monday, April 28th. DA Davidson cut their price target on SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 28th. 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 report on Tuesday, May 6th. Raymond James set a $110.00 price objective on shares of SouthState in a research report on Monday, April 28th. Finally, Citigroup upgraded shares of SouthState from a "neutral" rating to a "buy" rating and raised their target price for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $116.27.

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.