Nisa Investment Advisors LLC Has $190,000 Stake in SouthState Co. (NASDAQ:SSB)

Nisa Investment Advisors LLC lifted its position in shares of SouthState Co. (NASDAQ:SSB) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,250 shares of the bank’s stock after acquiring an additional 205 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SouthState were worth $190,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Creative Planning raised its position in SouthState by 2.8% during the 2nd quarter. Creative Planning now owns 5,466 shares of the bank’s stock worth $422,000 after purchasing an additional 151 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in SouthState by 37.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 591 shares of the bank’s stock worth $45,000 after purchasing an additional 161 shares during the last quarter. Sheets Smith Wealth Management raised its position in SouthState by 3.0% during the 3rd quarter. Sheets Smith Wealth Management now owns 5,863 shares of the bank’s stock worth $395,000 after purchasing an additional 171 shares during the last quarter. AlphaMark Advisors LLC raised its position in SouthState by 5.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,608 shares of the bank’s stock worth $305,000 after purchasing an additional 175 shares during the last quarter. Finally, Red Spruce Capital LLC raised its position in SouthState by 0.6% during the 4th quarter. Red Spruce Capital LLC now owns 29,465 shares of the bank’s stock worth $2,488,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Buying and Selling at SouthState

In other SouthState news, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now owns 35,828 shares in the company, valued at approximately $2,902,068. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Richard Iv Murray sold 4,900 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $81.85, for a total value of $401,065.00. Following the transaction, the president now owns 58,968 shares in the company, valued at approximately $4,826,530.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel E. Bockhorst sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the transaction, the insider now owns 35,828 shares in the company, valued at approximately $2,902,068. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,925 shares of company stock worth $988,686. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SSB shares. DA Davidson reissued a “buy” rating and issued a $102.00 price objective (up from $96.00) on shares of SouthState in a research report on Monday, January 29th. Truist Financial lowered their price objective on SouthState from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Raymond James lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th. Finally, UBS Group lifted their price objective on SouthState from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.80.

SouthState Price Performance

SSB stock opened at $78.08 on Friday. The company has a market capitalization of $5.95 billion, a P/E ratio of 12.09 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. SouthState Co. has a 52-week low of $59.51 and a 52-week high of $87.77. The business has a 50-day simple moving average of $81.77 and a two-hundred day simple moving average of $78.45.

SouthState (NASDAQ:SSB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.13. The business had revenue of $419.72 million during the quarter, compared to the consensus estimate of $419.08 million. SouthState had a return on equity of 9.85% and a net margin of 22.15%. Research analysts expect that SouthState Co. will post 6.63 EPS for the current fiscal year.

SouthState Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 2.66%. SouthState’s dividend payout ratio (DPR) is currently 32.20%.

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.