Keybank National Association OH Has $749,000 Holdings in SouthState Co. (NASDAQ:SSB)

Keybank National Association OH cut its position in shares of SouthState Co. (NASDAQ:SSB) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,528 shares of the bank’s stock after selling 500 shares during the quarter. Keybank National Association OH’s holdings in SouthState were worth $749,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in SouthState by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,039,891 shares of the bank’s stock worth $103,448,000 after acquiring an additional 52,042 shares in the last quarter. Fisher Asset Management LLC boosted its stake in SouthState by 19.6% during the fourth quarter. Fisher Asset Management LLC now owns 851,455 shares of the bank’s stock worth $84,703,000 after acquiring an additional 139,602 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in SouthState by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 22,635 shares of the bank’s stock worth $2,252,000 after acquiring an additional 141 shares in the last quarter. FourThought Financial Partners LLC bought a new position in SouthState during the fourth quarter worth $289,000. Finally, Bank of New York Mellon Corp boosted its stake in SouthState by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 842,498 shares of the bank’s stock worth $83,812,000 after acquiring an additional 37,796 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SouthState

In related news, Director G Stacy Smith acquired 3,100 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the director now owns 36,779 shares of the company’s stock, valued at approximately $3,442,514.40. This represents a 9.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William E. V. Matthews sold 6,531 shares of the firm’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 sale, the chief financial officer now owns 34,107 shares of the company’s stock, valued at $3,693,447.03. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

SouthState Stock Up 0.7 %

SSB opened at $93.03 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $100.51 and its 200 day moving average is $100.73. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The firm has a market capitalization of $9.43 billion, a P/E ratio of 13.37 and a beta of 0.68.

SouthState Dividend Announcement

The company also recently declared 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, February 7th. SouthState’s payout ratio is currently 31.03%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and increased their target price for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Hovde Group lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research note on Friday. Finally, UBS Group began coverage on shares of SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, SouthState currently has an average rating of “Moderate Buy” and an average target price of $115.44.

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.