SG Americas Securities LLC Has $805,000 Stock Position in SouthState Co. (NASDAQ:SSB)

SG Americas Securities LLC boosted its holdings in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 118.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,676 shares of the bank's stock after acquiring an additional 4,704 shares during the quarter. SG Americas Securities LLC's holdings in SouthState were worth $805,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of SouthState by 68.1% in the 1st quarter. GAMMA Investing LLC now owns 1,172 shares of the bank's stock valued at $109,000 after acquiring an additional 475 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of SouthState by 25.8% during the first quarter. Yousif Capital Management LLC now owns 33,718 shares of the bank's stock worth $3,130,000 after purchasing an additional 6,908 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of SouthState by 1,747.5% during the first quarter. UMB Bank n.a. now owns 10,586 shares of the bank's stock worth $983,000 after purchasing an additional 10,013 shares during the last quarter. Vest Financial LLC acquired a new position in shares of SouthState during the first quarter valued at $3,199,000. Finally, NBC Securities Inc. lifted its stake in shares of SouthState by 100,280.2% during the first quarter. NBC Securities Inc. now owns 96,365 shares of the bank's stock valued at $8,944,000 after acquiring an additional 96,269 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. 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 decreased their price target on SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Jefferies Financial Group assumed coverage on SouthState in a research report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 price objective for the company. DA Davidson dropped 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. Finally, Raymond James Financial set a $110.00 price objective on SouthState in a report on Monday, April 28th. 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $116.27.

SouthState Trading Up 0.9%

NASDAQ SSB opened at $85.92 on Friday. The business's 50-day moving average price is $87.87 and its two-hundred day moving average price is $94.87. SouthState Co. has a 12 month low of $72.10 and a 12 month high of $114.27. The firm has a market capitalization of $8.72 billion, a PE ratio of 12.34 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, May 9th. SouthState's dividend payout ratio is 34.12%.

SouthState Company 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.

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