William E. V. Matthews Sells 6,531 Shares of SouthState Co. (NASDAQ:SSB) Stock

SouthState Co. (NASDAQ:SSB) CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SouthState Stock Down 0.6 %

Shares of NASDAQ SSB opened at $105.88 on Friday. The business’s fifty day moving average price is $103.41 and its 200-day moving average price is $98.95. SouthState Co. has a one year low of $70.68 and a one year high of $114.26. The stock has a market capitalization of $8.08 billion, a PE ratio of 16.34 and a beta of 0.70. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.04%. SouthState’s payout ratio is 33.33%.

Institutional Trading of SouthState

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in SouthState by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,820,303 shares of the bank’s stock valued at $176,931,000 after buying an additional 31,340 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of SouthState by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock valued at $95,999,000 after purchasing an additional 72,181 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of SouthState by 4.9% in the third quarter. The Manufacturers Life Insurance Company now owns 731,802 shares of the bank’s stock valued at $71,117,000 after purchasing an additional 34,194 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of SouthState by 3.7% during the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock valued at $69,178,000 after purchasing an additional 25,495 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in SouthState by 3.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 622,084 shares of the bank’s stock worth $60,454,000 after purchasing an additional 22,855 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. UBS Group began coverage on SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $106.00 to $128.00 in a report on Monday. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research note on Friday, January 24th. Finally, Piper Sandler lifted their target price on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.44.

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.