U.S. Capital Wealth Advisors LLC Purchases New Holdings in SouthState Co. (NASDAQ:SSB)

U.S. Capital Wealth Advisors LLC purchased a new position in shares of SouthState Co. (NASDAQ:SSB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,943 shares of the bank's stock, valued at approximately $737,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of SouthState during the 4th quarter worth $38,000. Aquatic Capital Management LLC purchased a new position in SouthState during the fourth quarter valued at $45,000. Quadrant Capital Group LLC raised its holdings in SouthState by 24.2% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock valued at $51,000 after acquiring an additional 99 shares during the period. Versant Capital Management Inc increased its holdings in shares of SouthState by 577.4% in the first quarter. Versant Capital Management Inc now owns 569 shares of the bank's stock worth $53,000 after purchasing an additional 485 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of SouthState by 181.7% during 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 during the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

SouthState Price Performance

SouthState stock traded down $0.64 during trading hours on Friday, reaching $97.01. 792,190 shares of the stock were exchanged, compared to its average volume of 749,516. The stock has a 50 day moving average of $90.29 and a two-hundred day moving average of $93.47. SouthState Co. has a twelve month low of $77.74 and a twelve month high of $114.27. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The company has a market cap of $9.85 billion, a P/E ratio of 13.94 and a beta of 0.77.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, May 9th. SouthState's dividend payout ratio (DPR) is currently 34.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SSB shares. Raymond James Financial set a $110.00 price target on shares of SouthState in a research report on Monday, April 28th. Truist Financial initiated coverage on SouthState in a research report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 price objective for the company. Stephens reaffirmed an "overweight" rating and issued a $119.00 target price on shares of SouthState in a report on Monday, April 28th. DA Davidson reduced their target price on shares of SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Jefferies Financial Group began coverage on shares of SouthState in a research report on Wednesday, May 21st. They set a "buy" rating and a $110.00 target price on the stock. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $116.45.

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.