UMB Bank n.a. raised its stake in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 1,747.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,586 shares of the bank's stock after purchasing an additional 10,013 shares during the period. UMB Bank n.a.'s holdings in SouthState were worth $983,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC bought a new stake in shares of SouthState in the 4th quarter worth about $3,769,000. Stonebridge Financial Group LLC purchased a new stake in SouthState during the fourth quarter valued at approximately $137,000. Louisiana State Employees Retirement System lifted its stake in shares of SouthState by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the bank's stock valued at $2,109,000 after purchasing an additional 100 shares during the last quarter. Van ECK Associates Corp raised its holdings in SouthState by 34.1% during the 4th quarter. Van ECK Associates Corp now owns 58,540 shares of the bank's stock valued at $5,824,000 after buying an additional 14,894 shares during the period. Finally, Rhumbline Advisers increased its position in SouthState by 1.6% during the fourth quarter. Rhumbline Advisers now owns 258,068 shares of the bank's stock valued at $25,673,000 after acquiring an additional 3,954 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.
SouthState Stock Up 0.3%
NASDAQ SSB traded up $0.29 on Tuesday, hitting $90.79. The stock had a trading volume of 604,391 shares, compared to its average volume of 657,161. The business's fifty day moving average price is $87.24 and its 200 day moving average price is $95.99. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 13.04 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 $70.68 and a 52-week high of $114.27.
SouthState Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors 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 annualized dividend and a yield of 2.38%. SouthState's dividend payout ratio (DPR) is 34.12%.
Analyst Ratings Changes
Several research firms have recently issued reports on SSB. Truist Financial began coverage on shares of SouthState in a report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 target price for the company. Jefferies Financial Group started coverage on SouthState in a research note on Wednesday, May 21st. They issued a "buy" rating and a $110.00 target price on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Raymond James set a $110.00 target price on shares of SouthState in a research note on Monday, April 28th. Finally, DA Davidson decreased their price target 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. One investment 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. According to MarketBeat, SouthState has an average rating of "Buy" and an average target price of $116.27.
View Our Latest Stock Report on SouthState
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.
Further Reading
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
