SouthState Co. (NASDAQ:SSB) Stock Holdings Increased by Amalgamated Bank

Amalgamated Bank boosted its position in SouthState Co. (NASDAQ:SSB - Free Report) by 23.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 43,201 shares of the bank's stock after acquiring an additional 8,269 shares during the period. Amalgamated Bank's holdings in SouthState were worth $4,010,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of SouthState in the fourth quarter worth approximately $38,000. Aquatic Capital Management LLC acquired a new position in shares of SouthState in the 4th quarter valued at $45,000. Quadrant Capital Group LLC grew its stake in shares of SouthState by 24.2% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock valued at $51,000 after buying an additional 99 shares during the period. Versant Capital Management Inc increased its holdings in shares of SouthState by 577.4% during the 1st quarter. Versant Capital Management Inc now owns 569 shares of the bank's stock worth $53,000 after buying an additional 485 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of SouthState by 181.7% in the 1st 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 period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James Financial set a $110.00 price target on SouthState in a research report on Monday, April 28th. DA Davidson dropped their target price on shares of SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 28th. 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. Truist Financial began coverage on shares of SouthState in a research report on Tuesday, May 13th. They set a "buy" rating and a $106.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of SouthState in a research report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 price objective for the company. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, SouthState currently has a consensus rating of "Buy" and a consensus price target of $116.27.

SouthState Stock Up 0.1%

SSB traded up $0.13 during trading hours on Friday, reaching $96.87. 482,337 shares of the stock traded hands, compared to its average volume of 744,698. SouthState Co. has a fifty-two week low of $74.69 and a fifty-two week high of $114.27. 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 $9.83 billion, a price-to-earnings ratio of 13.92 and a beta of 0.77. The firm's fifty day simple moving average is $89.19 and its two-hundred day simple moving average is $93.66.

SouthState Announces Dividend

The business also recently declared 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, May 9th. SouthState's payout ratio is currently 34.12%.

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.