SouthState (NASDAQ:SSB) Now Covered by Barclays

Stock analysts at Barclays began coverage on shares of SouthState (NASDAQ:SSB) in a report released on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $120.00 price target on the bank’s stock. Barclays‘s price objective points to a potential upside of 29.16% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. UBS Group initiated coverage on shares of SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research note on Friday, March 7th. Finally, Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and raised their price target for the company from $106.00 to $128.00 in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.90.

SouthState Stock Up 0.7 %

SSB stock opened at $92.91 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $98.92 and a 200 day moving average of $100.60. SouthState has a twelve month low of $70.68 and a twelve month high of $114.27. The firm has a market cap of $9.42 billion, a PE ratio of 13.35 and a beta of 0.68.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. The trade was a 16.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Stacy Smith acquired 3,100 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $93.60 per share, for a total transaction of $290,160.00. Following the purchase, the director now directly owns 36,779 shares in the company, valued at approximately $3,442,514.40. This trade represents a 9.20 % 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.

Institutional Investors Weigh In On SouthState

A number of hedge funds have recently modified their holdings of SSB. Summit Securities Group LLC purchased a new position in SouthState during the fourth quarter valued at $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState in the fourth quarter worth about $45,000. Quadrant Capital Group LLC lifted its position in shares of SouthState by 24.2% during the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank’s stock valued at $51,000 after buying an additional 99 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of SouthState during the 4th quarter valued at approximately $102,000. Finally, Blue Trust Inc. increased its holdings in SouthState by 16.8% in the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock worth $113,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

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.