Ferguson Shapiro LLC purchased a new stake in SouthState Co. (NASDAQ:SSB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,000 shares of the bank's stock, valued at approximately $1,207,000. SouthState comprises 0.4% of Ferguson Shapiro LLC's investment portfolio, making the stock its 23rd largest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of SouthState during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC acquired a new stake in SouthState in the fourth quarter worth $45,000. Quadrant Capital Group LLC increased its position in SouthState by 24.2% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock worth $51,000 after buying an additional 99 shares during the period. Versant Capital Management Inc lifted its position in SouthState by 577.4% in the 1st quarter. Versant Capital Management Inc now owns 569 shares of the bank's stock valued at $53,000 after purchasing an additional 485 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in SouthState by 181.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 586 shares of the bank's stock valued at $54,000 after purchasing an additional 378 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
SouthState Price Performance
Shares of NASDAQ:SSB traded up $3.11 during trading on Thursday, reaching $91.94. The stock had a trading volume of 975,806 shares, compared to its average volume of 675,799. The stock has a market capitalization of $9.33 billion, a PE ratio of 13.21 and a beta of 0.77. 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 Co. has a 52 week low of $72.97 and a 52 week high of $114.27. The business's 50-day moving average price is $88.28 and its 200 day moving average price is $94.26.
SouthState Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors 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 yield of 2.35%. SouthState's dividend payout ratio (DPR) is 34.12%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Truist Financial began coverage on shares of SouthState in a research report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 target price for the company. Raymond James Financial set a $110.00 price target on SouthState in a research report on Monday, April 28th. Stephens reaffirmed an "overweight" rating and issued a $119.00 price target on shares of SouthState in a research note on Monday, April 28th. DA Davidson cut their price objective on shares of SouthState from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Barclays reduced their price target on SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, SouthState has an average rating of "Buy" and an average price target of $116.27.
Get Our Latest Stock Report on SSB
About SouthState
(
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.
See Also
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
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
