SouthState Co. (NASDAQ:SSB) Shares Sold by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC lowered its stake in shares of SouthState Co. (NASDAQ:SSB) by 4.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,332 shares of the bank’s stock after selling 262 shares during the period. Integrated Investment Consultants LLC’s holdings in SouthState were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SSB. Waldron Private Wealth LLC purchased a new stake in SouthState in the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC boosted its holdings in SouthState by 120.7% in the 2nd quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock valued at $47,000 after purchasing an additional 333 shares in the last quarter. UMB Bank n.a. boosted its holdings in SouthState by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after purchasing an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in SouthState in the 2nd quarter valued at approximately $97,000. Finally, Innealta Capital LLC purchased a new stake in SouthState in the 2nd quarter valued at approximately $133,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling at SouthState

In other news, CFO William E. V. Matthews sold 5,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares of the company’s stock, valued at $3,696,400. The trade was a 11.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel E. Bockhorst sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the insider now directly owns 33,328 shares of the company’s stock, valued at $3,332,800. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SSB shares. Piper Sandler lifted their price objective on SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 25th. DA Davidson lifted their price target on shares of SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Truist Financial reduced their price target on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $105.11.

SouthState Trading Up 1.9 %

Shares of SouthState stock opened at $106.83 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. SouthState Co. has a 1 year low of $70.68 and a 1 year high of $113.14. The company has a market capitalization of $8.15 billion, a P/E ratio of 16.49 and a beta of 0.66. The business has a 50 day moving average price of $99.67 and a 200 day moving average price of $89.53.

SouthState (NASDAQ:SSB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.26. The firm had revenue of $426.41 million during the quarter, compared to the consensus estimate of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. Sell-side analysts anticipate that SouthState Co. will post 6.94 EPS for the current fiscal year.

SouthState Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.54 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 2.02%. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

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.