SouthState Co. (NASDAQ:SSB) Shares Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP increased its holdings in SouthState Co. (NASDAQ:SSB) by 12.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,329 shares of the bank’s stock after buying an additional 722 shares during the period. Advantage Alpha Capital Partners LP’s holdings in SouthState were worth $630,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in SouthState in the fourth quarter valued at approximately $1,540,000. Sei Investments Co. grew its stake in SouthState by 0.5% during the 4th quarter. Sei Investments Co. now owns 294,950 shares of the bank’s stock worth $29,342,000 after buying an additional 1,554 shares during the last quarter. Virtu Financial LLC acquired a new stake in SouthState in the fourth quarter worth $1,045,000. Xponance Inc. lifted its stake in SouthState by 4.4% in the fourth quarter. Xponance Inc. now owns 10,770 shares of the bank’s stock valued at $1,071,000 after buying an additional 452 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of SouthState by 2.3% during the fourth quarter. Boston Partners now owns 262,236 shares of the bank’s stock valued at $26,087,000 after acquiring an additional 5,873 shares during the period. Institutional investors own 89.76% of the company’s stock.

Wall Street Analyst Weigh In

SSB has been the topic of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a report on Friday, March 7th. UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target on the stock. Finally, Citigroup raised SouthState from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.44.

SouthState Price Performance

NASDAQ SSB opened at $95.05 on Tuesday. The firm has a market capitalization of $9.63 billion, a PE ratio of 13.66 and a beta of 0.68. 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 Co. has a 12 month low of $70.68 and a 12 month high of $114.27. The company’s 50 day simple moving average is $99.46 and its 200 day simple moving average is $100.57.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, February 7th. SouthState’s dividend payout ratio is presently 31.03%.

Insider Activity

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

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.