SouthState Co. (NASDAQ:SSB) Holdings Reduced by Bfsg LLC

Bfsg LLC lowered its position in SouthState Co. (NASDAQ:SSB) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,100 shares of the bank’s stock after selling 378 shares during the quarter. Bfsg LLC’s holdings in SouthState were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SSB. BIP Wealth LLC lifted its holdings in SouthState by 605.2% in the third quarter. BIP Wealth LLC now owns 31,422 shares of the bank’s stock worth $3,054,000 after purchasing an additional 26,966 shares during the period. Stifel Financial Corp raised its position in shares of SouthState by 10.5% during the 3rd quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock worth $6,178,000 after buying an additional 6,062 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of SouthState by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,894 shares of the bank’s stock worth $39,736,000 after acquiring an additional 9,863 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of SouthState by 3.7% in the third quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock valued at $69,178,000 after acquiring an additional 25,495 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of SouthState during the fourth quarter valued at approximately $1,008,000. Institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of SouthState stock in a transaction on Wednesday, January 29th. The shares were 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 $3,693,447.03. This trade represents a 16.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.70% of the company’s stock.

SouthState Stock Performance

SouthState stock opened at $102.60 on Thursday. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The firm’s 50 day simple moving average is $101.78 and its 200-day simple moving average is $100.06. 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 has a market cap of $7.83 billion, a P/E ratio of 14.74 and a beta of 0.70.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, February 7th. SouthState’s payout ratio is 31.03%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. UBS Group began coverage on SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. Hovde Group lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler boosted their target price on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, SouthState has an average rating of “Moderate Buy” and an average price target of $115.44.

SouthState 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.