SouthState Co. (NASDAQ:SSB) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its holdings in SouthState Co. (NASDAQ:SSB) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,928 shares of the bank’s stock after acquiring an additional 2,226 shares during the quarter. Natixis Advisors LLC’s holdings in SouthState were worth $2,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Waldron Private Wealth LLC purchased a new position in SouthState during the 3rd quarter worth $35,000. GAMMA Investing LLC boosted its stake in shares of SouthState by 120.7% during the second quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock worth $47,000 after buying an additional 333 shares during the period. UMB Bank n.a. grew its holdings in shares of SouthState by 53.9% during the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after buying an additional 192 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in SouthState in the 2nd quarter valued at about $97,000. Finally, Innealta Capital LLC purchased a new stake in SouthState during the 2nd quarter valued at approximately $133,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial reduced their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. 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 note on Thursday, November 7th. Finally, Stephens raised their price objective on shares of SouthState from $101.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.11.

Insiders Place Their Bets

In related news, insider Daniel E. Bockhorst sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 33,328 shares in the company, valued at approximately $3,332,800. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of SouthState stock in a transaction on Friday, September 20th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief financial officer now owns 36,964 shares in the company, valued at approximately $3,696,400. This trade represents a 11.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

SouthState Stock Performance

NASDAQ SSB opened at $112.25 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The business has a fifty day moving average of $100.24 and a 200-day moving average of $89.98. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 17.27 and a beta of 0.66.

SouthState (NASDAQ:SSB) last announced its earnings results 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 firm had revenue of $426.41 million during the quarter, compared to the consensus estimate of $429.47 million. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. As a group, analysts predict that SouthState Co. will post 6.94 earnings per share for the current fiscal year.

SouthState Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 1.92%. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

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.