SouthState Co. (NASDAQ:SSB) Stock Holdings Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in shares of SouthState Co. (NASDAQ:SSB - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,882,211 shares of the bank's stock after purchasing an additional 94,637 shares during the period. Dimensional Fund Advisors LP owned 3.79% of SouthState worth $243,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in SouthState by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 2,884,632 shares of the bank's stock valued at $194,309,000 after acquiring an additional 35,291 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SouthState by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,187 shares of the bank's stock valued at $84,888,000 after acquiring an additional 25,328 shares during the last quarter. New York State Common Retirement Fund raised its holdings in SouthState by 0.9% in the 3rd quarter. New York State Common Retirement Fund now owns 328,123 shares of the bank's stock valued at $22,102,000 after acquiring an additional 2,920 shares during the last quarter. Sei Investments Co. raised its holdings in SouthState by 5.4% in the 3rd quarter. Sei Investments Co. now owns 286,177 shares of the bank's stock valued at $19,277,000 after acquiring an additional 14,688 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in SouthState by 0.7% in the 3rd quarter. Rhumbline Advisers now owns 261,994 shares of the bank's stock valued at $17,648,000 after acquiring an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company's stock.

Insider Buying and Selling

In related news, insider Daniel E. Bockhorst sold 3,000 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the sale, the insider now directly owns 35,828 shares of the company's stock, valued at $2,902,068. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Daniel E. Bockhorst sold 3,000 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the sale, the insider now directly owns 35,828 shares of the company's stock, valued at $2,902,068. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Richard Iv Murray sold 4,900 shares of the business's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total transaction of $401,065.00. Following the completion of the sale, the president now directly owns 58,968 shares of the company's stock, valued at $4,826,530.80. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

SouthState Stock Up 1.2 %

Shares of NASDAQ:SSB traded up $0.97 during trading on Tuesday, hitting $81.08. The company's stock had a trading volume of 192,775 shares, compared to its average volume of 410,427. The business has a 50 day moving average price of $80.45 and a two-hundred day moving average price of $80.09. The company has a market capitalization of $6.18 billion, a PE ratio of 13.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.89 and a current ratio of 0.90. SouthState Co. has a fifty-two week low of $60.12 and a fifty-two week high of $87.77.

SouthState (NASDAQ:SSB - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.55 by $0.03. The business had revenue of $415.49 million during the quarter, compared to the consensus estimate of $414.32 million. SouthState had a net margin of 20.91% and a return on equity of 9.24%. The company's quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.93 earnings per share. As a group, research analysts expect that SouthState Co. will post 6.37 EPS for the current fiscal year.

SouthState Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.57%. SouthState's payout ratio is currently 33.93%.

Analysts Set New Price Targets

Several analysts have recently commented on SSB shares. Truist Financial reduced their price target on shares of SouthState from $89.00 to $84.00 and set a "hold" rating on the stock in a research report on Monday, April 29th. DA Davidson reaffirmed a "buy" rating and set a $102.00 price target (up previously from $96.00) on shares of SouthState in a research report on Monday, January 29th. Piper Sandler reduced their price target on shares of SouthState from $98.00 to $95.00 and set an "overweight" rating on the stock in a research report on Monday, April 29th. Finally, UBS Group lifted their target price on shares of SouthState from $88.00 to $90.00 and gave the company a "neutral" rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $88.17.

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.