SouthState Co. (NASDAQ:SSB) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC trimmed its position in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,570 shares of the bank's stock after selling 8,796 shares during the period. SouthState makes up approximately 1.1% of Keeley Teton Advisors LLC's holdings, making the stock its 7th largest holding. Keeley Teton Advisors LLC owned approximately 0.13% of SouthState worth $9,507,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of SouthState in the 4th quarter valued at $38,000. Quadrant Capital Group LLC grew 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 last quarter. Headlands Technologies LLC bought a new stake in SouthState during the fourth quarter worth about $102,000. Blue Trust Inc. raised its stake in shares of SouthState by 16.8% in the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank's stock valued at $113,000 after acquiring an additional 167 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of SouthState in the 4th quarter worth approximately $137,000. Institutional investors and hedge funds own 89.76% of the company's stock.

Insiders Place Their Bets

In other SouthState news, Director G Stacy Smith bought 3,100 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $93.60 per share, with a total value of $290,160.00. Following the completion of the purchase, the director now owns 36,779 shares in the company, valued at approximately $3,442,514.40. The trade was a 9.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Janet P. Froetscher purchased 2,717 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $92.02 per share, for a total transaction of $250,018.34. Following the transaction, the director now owns 4,689 shares of the company's stock, valued at $431,481.78. This trade represents a 137.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company's stock.

SouthState Trading Up 0.9 %

Shares of SSB stock traded up $0.75 during trading hours on Friday, reaching $84.82. The company had a trading volume of 626,967 shares, compared to its average volume of 620,124. SouthState Co. has a 1-year low of $70.68 and a 1-year high of $114.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 12.19 and a beta of 0.65. The company has a 50 day moving average of $92.47 and a 200 day moving average of $99.16.

SouthState Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 2.55%. The ex-dividend date was Friday, February 7th. SouthState's payout ratio is 31.03%.

Analyst Ratings Changes

SSB has been the topic of several research reports. Stephens reiterated an "overweight" rating and set a $130.00 price target on shares of SouthState in a research report on Friday, March 7th. Barclays reduced their target price on shares of SouthState from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Raymond James raised shares of SouthState from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $120.00 to $115.00 in a report on Wednesday, April 2nd. Finally, Citigroup raised SouthState from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $117.90.

SouthState 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.