KDK Private Wealth Management LLC bought a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,305 shares of the bank's stock, valued at approximately $957,000. SouthState accounts for about 1.1% of KDK Private Wealth Management LLC's investment portfolio, making the stock its 19th largest holding.
A number of other institutional investors also recently bought and sold shares of SSB. Quadrant Capital Group LLC increased its position 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. Commonwealth Equity Services LLC raised its position in SouthState by 1.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,537 shares of the bank's stock worth $949,000 after buying an additional 112 shares during the last quarter. Bragg Financial Advisors Inc raised its position in SouthState by 4.3% during the 4th quarter. Bragg Financial Advisors Inc now owns 2,776 shares of the bank's stock worth $276,000 after buying an additional 115 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of SouthState by 14.2% in the 1st quarter. IFP Advisors Inc now owns 943 shares of the bank's stock valued at $87,000 after purchasing an additional 117 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of SouthState by 5.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,368 shares of the bank's stock valued at $220,000 after purchasing an additional 118 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.
SouthState Stock Up 0.7%
Shares of NASDAQ SSB traded up $0.69 during mid-day trading on Tuesday, reaching $97.68. 140,503 shares of the company's stock were exchanged, compared to its average volume of 746,934. The business has a fifty day simple moving average of $91.11 and a 200 day simple moving average of $93.27. SouthState Co. has a twelve month low of $77.74 and a twelve month high of $114.27. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 14.02 and a beta of 0.77. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07.
SouthState Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.21%. SouthState's payout ratio is 34.12%.
Wall Street Analyst Weigh In
Several equities 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 research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut their price target on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group initiated coverage on shares of SouthState in a report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 price target on the stock. Stephens restated an "overweight" rating and issued a $119.00 price target on shares of SouthState in a report on Monday, April 28th. Finally, Truist Financial initiated coverage on shares of SouthState in a report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $116.45.
View Our Latest Stock Analysis 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.
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