361 Shares in SouthState Co. (NASDAQ:SSB) Acquired by Waldron Private Wealth LLC

Waldron Private Wealth LLC purchased a new stake in SouthState Co. (NASDAQ:SSB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 361 shares of the bank’s stock, valued at approximately $35,000.

Several other hedge funds have also recently bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new position in shares of SouthState during the first quarter worth approximately $30,000. GAMMA Investing LLC raised its position in SouthState by 120.7% in the 2nd quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock worth $47,000 after purchasing an additional 333 shares during the last quarter. UMB Bank n.a. lifted its holdings in SouthState by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after buying an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in SouthState in the 2nd quarter valued at $97,000. Finally, Innealta Capital LLC acquired a new stake in shares of SouthState in the 2nd quarter valued at $133,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SSB shares. Stephens raised their price target on SouthState from $88.00 to $101.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of SouthState from $95.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Hovde Group boosted their price target on shares of SouthState from $97.00 to $112.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. DA Davidson raised their price objective on shares of SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup started coverage on shares of SouthState in a research report on Thursday, October 10th. They set a “neutral” rating and a $102.00 target price for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, SouthState currently has a consensus rating of “Moderate Buy” and an average target price of $102.89.

Insiders Place Their Bets

In related news, CFO William E. V. Matthews sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares in the company, valued at approximately $3,696,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO William E. V. Matthews sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer now owns 36,964 shares in the company, valued at $3,696,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel E. Bockhorst sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares in the company, valued at approximately $3,332,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

SouthState Trading Up 1.5 %

NASDAQ:SSB opened at $98.06 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.10. SouthState Co. has a twelve month low of $63.36 and a twelve month high of $103.82. The company has a market cap of $7.47 billion, a P/E ratio of 16.00 and a beta of 0.67. The business has a 50 day moving average price of $96.27 and a two-hundred day moving average price of $86.18.

SouthState (NASDAQ:SSB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.26. The company had revenue of $426.41 million during the quarter, compared to analysts’ expectations of $429.47 million. SouthState had a return on equity of 9.31% and a net margin of 20.84%. SouthState’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. As a group, analysts expect that SouthState Co. will post 6.69 EPS for the current fiscal year.

SouthState Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.16 dividend on an annualized basis and a yield of 2.20%. SouthState’s payout ratio is 35.24%.

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.