Dana Investment Advisors Inc. Has $1.88 Million Position in SouthState Co. (NASDAQ:SSB)

Dana Investment Advisors Inc. reduced its stake in SouthState Co. (NASDAQ:SSB) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,895 shares of the bank’s stock after selling 846 shares during the period. Dana Investment Advisors Inc.’s holdings in SouthState were worth $1,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings 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 purchasing an additional 167 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of SouthState in the fourth quarter valued at $137,000. International Assets Investment Management LLC increased its holdings in shares of SouthState by 9,620.0% in the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,443 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of SouthState by 22,412.5% in the fourth quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in shares of SouthState by 15.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank’s stock valued at $183,000 after acquiring an additional 250 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Trading Up 0.7 %

SSB opened at $93.03 on Friday. SouthState Co. has a twelve month low of $70.68 and a twelve month high of $114.26. The company has a 50-day simple moving average of $100.67 and a 200 day simple moving average of $100.72. 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 stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 13.37 and a beta of 0.68.

SouthState Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.32%. SouthState’s dividend payout ratio is 31.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SSB shares. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research report on Friday. Hovde Group cut shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and boosted their target price for the company from $106.00 to $128.00 in a research report on Monday, January 27th. Finally, UBS Group started coverage on shares of SouthState in a research report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, SouthState presently has an average rating of “Moderate Buy” and a consensus target price of $115.44.

Insider Buying and Selling

In other SouthState news, CAO Sara Arana sold 1,991 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $100.78, for a total transaction of $200,652.98. Following the completion of the transaction, the chief accounting officer now owns 4,787 shares of the company’s stock, valued at approximately $482,433.86. The trade was a 29.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $707,241.99. Following the transaction, the chief financial officer now directly owns 34,107 shares of the company’s stock, valued at approximately $3,693,447.03. The trade was a 16.07 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

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.