SouthState Co. (NASDAQ:SSB) Given Consensus Rating of "Buy" by Analysts

SouthState Co. (NASDAQ:SSB - Get Free Report) has earned a consensus recommendation of "Buy" from the eleven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $116.27.

A number of brokerages recently issued reports on SSB. Keefe, Bruyette & Woods dropped their target price on SouthState from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Truist Financial initiated coverage on shares of SouthState in a research note on Tuesday, May 13th. They set a "buy" rating and a $106.00 price target for the company. Jefferies Financial Group started coverage on shares of SouthState in a research report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 price objective on the stock. 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 report on Monday, April 28th. Finally, Raymond James set a $110.00 price target on shares of SouthState in a research report on Monday, April 28th.

Insider Buying and Selling at SouthState

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

Institutional Trading of SouthState

Institutional investors have recently modified their holdings of the business. Avior Wealth Management LLC grew its position in shares of SouthState by 22,412.5% in the 4th quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank's stock valued at $179,000 after buying an additional 1,793 shares during the last quarter. Blue Trust Inc. lifted 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 worth $113,000 after acquiring an additional 167 shares during the period. KBC Group NV boosted its holdings in SouthState by 35.3% in the fourth quarter. KBC Group NV now owns 3,106 shares of the bank's stock valued at $309,000 after acquiring an additional 810 shares during the last quarter. Pacer Advisors Inc. increased its position in SouthState by 1.9% during the 4th quarter. Pacer Advisors Inc. now owns 11,371 shares of the bank's stock valued at $1,131,000 after purchasing an additional 207 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in SouthState during the 4th quarter valued at approximately $233,000. Institutional investors own 89.76% of the company's stock.

SouthState Stock Down 1.7%

Shares of SSB traded down $1.51 during midday trading on Tuesday, hitting $88.21. The stock had a trading volume of 577,491 shares, compared to its average volume of 652,526. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 12.67 and a beta of 0.75. The company has a 50 day simple moving average of $88.07 and a two-hundred day simple moving average of $97.16. SouthState has a twelve month low of $70.68 and a twelve month 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.

SouthState Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.54 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.16 annualized dividend and a dividend yield of 2.45%. 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.