Segall Bryant & Hamill LLC lessened its position in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 607,494 shares of the bank's stock after selling 10,780 shares during the period. SouthState makes up about 0.9% of Segall Bryant & Hamill LLC's holdings, making the stock its 9th biggest position. Segall Bryant & Hamill LLC owned 0.60% of SouthState worth $56,388,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SSB. Summit Securities Group LLC bought a new position in shares of SouthState in the 4th quarter worth $38,000. Aquatic Capital Management LLC purchased a new stake in shares of SouthState in the 4th quarter valued at $45,000. Quadrant Capital Group LLC boosted its stake 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 in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake 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 valued at $54,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 89.76% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $110.00 price objective on shares of SouthState in a research note on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Barclays upped their price objective on shares of SouthState from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. DA Davidson cut their price objective on shares of SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Jefferies Financial Group initiated coverage on shares of SouthState in a research report on Wednesday, May 21st. They set a "buy" rating and a $110.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $116.45.
View Our Latest Report on SSB
SouthState Trading Up 0.1%
Shares of NASDAQ:SSB traded up $0.12 on Friday, hitting $97.71. The company had a trading volume of 538,885 shares, compared to its average volume of 748,926. The firm's 50-day simple moving average is $91.11 and its two-hundred day simple moving average is $93.34. SouthState Co. has a 1 year low of $77.74 and a 1 year high of $114.27. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 14.04 and a beta of 0.77.
SouthState Announces Dividend
The company 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 2.21%. SouthState's dividend payout ratio is currently 34.12%.
SouthState Company Profile
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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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