3,464 Shares in SouthState Co. (NASDAQ:SSB) Bought by Vise Technologies Inc.

Vise Technologies Inc. acquired a new position in SouthState Co. (NASDAQ:SSB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,464 shares of the bank's stock, valued at approximately $345,000.

A number of other large investors have also modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in shares of SouthState by 22,412.5% during the fourth quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank's stock worth $179,000 after purchasing an additional 1,793 shares during the period. Blue Trust Inc. increased its holdings in SouthState by 16.8% in the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock valued at $113,000 after buying an additional 167 shares during the period. KBC Group NV increased its holdings in SouthState by 35.3% in the 4th quarter. KBC Group NV now owns 3,106 shares of the bank's stock valued at $309,000 after buying an additional 810 shares during the period. Pacer Advisors Inc. increased its holdings in SouthState by 1.9% in the 4th quarter. Pacer Advisors Inc. now owns 11,371 shares of the bank's stock valued at $1,131,000 after buying an additional 207 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in shares of SouthState in the 4th quarter worth about $233,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Analyst Upgrades and Downgrades

SSB has been the topic of a number of research reports. Jefferies Financial Group started 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. Raymond James set a $110.00 price target on shares of SouthState in a research note on Monday, April 28th. DA Davidson decreased their target price 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. Keefe, Bruyette & Woods decreased their target price 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. Finally, Stephens reaffirmed an "overweight" rating and set a $119.00 price objective on shares of SouthState in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, SouthState has an average rating of "Buy" and an average price target of $116.27.

Insider Activity

In related news, Director Janet P. Froetscher purchased 2,717 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $92.02 per share, with a total value of $250,018.34. Following the purchase, the director now owns 4,689 shares of the company's stock, valued at $431,481.78. The trade was a 137.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sara Arana sold 1,991 shares of SouthState stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total transaction of $200,652.98. Following the sale, the chief accounting officer now directly owns 4,787 shares in the company, valued at approximately $482,433.86. This trade represents a 29.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

SouthState Stock Performance

NASDAQ SSB traded down $0.70 during trading hours on Friday, hitting $88.17. 1,021,528 shares of the company's stock traded hands, compared to its average volume of 655,349. The firm has a market capitalization of $8.95 billion, a P/E ratio of 12.67 and a beta of 0.75. SouthState Co. has a 52 week low of $70.68 and a 52 week high of $114.27. The business's fifty day moving average price is $87.82 and its two-hundred day moving average price is $96.80. 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 Dividend Announcement

The firm also recently declared 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. This represents a $2.16 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, May 9th. SouthState's payout ratio is 34.12%.

About SouthState

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.