Yousif Capital Management LLC lifted its position in SouthState Co. (NASDAQ:SSB - Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,718 shares of the bank's stock after purchasing an additional 6,908 shares during the quarter. Yousif Capital Management LLC's holdings in SouthState were worth $3,130,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in SouthState during the fourth quarter worth about $38,000. Aquatic Capital Management LLC purchased a new position in SouthState during the fourth quarter worth about $45,000. Quadrant Capital Group LLC boosted its stake in SouthState by 24.2% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock worth $51,000 after buying an additional 99 shares during the period. Versant Capital Management Inc boosted its stake in SouthState by 577.4% during the first 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 period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in SouthState by 181.7% during the first 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. Hedge funds and other institutional investors own 89.76% of the company's stock.
SouthState Stock Down 3.3%
NASDAQ:SSB traded down $2.86 during mid-day trading on Friday, hitting $85.08. The stock had a trading volume of 855,324 shares, compared to its average volume of 660,244. 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 Co. has a twelve month low of $70.68 and a twelve month high of $114.27. The stock has a 50-day simple moving average of $87.73 and a two-hundred day simple moving average of $95.56. The company has a market capitalization of $8.63 billion, a PE ratio of 12.22 and a beta of 0.77.
SouthState Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.54%. SouthState's payout ratio is currently 34.12%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Raymond James set a $110.00 price objective on shares of SouthState in a research note on Monday, April 28th. Jefferies Financial Group assumed coverage on shares of SouthState in a research note on Wednesday, May 21st. They issued a "buy" rating and a $110.00 price objective for the company. Stephens reissued an "overweight" rating and issued a $119.00 price objective on shares of SouthState in a research note on Monday, April 28th. DA Davidson lowered 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, Barclays lowered their price objective on shares of SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $116.27.
Read Our Latest Stock Analysis on SouthState
SouthState Profile
(
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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