SouthState Co. (NASDAQ:SSB) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its stake in shares of SouthState Co. (NASDAQ:SSB) by 38.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,782 shares of the bank’s stock after purchasing an additional 1,057 shares during the quarter. Sanctuary Advisors LLC’s holdings in SouthState were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SSB. Blue Trust Inc. boosted its position in SouthState by 16.8% during the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after purchasing an additional 167 shares during the period. Stonebridge Financial Group LLC acquired a new position in SouthState during the 4th quarter valued at approximately $137,000. International Assets Investment Management LLC boosted its position in SouthState by 9,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,443 shares during the period. Avior Wealth Management LLC boosted its position in SouthState by 22,412.5% during the 4th quarter. Avior Wealth Management LLC now owns 1,801 shares of the bank’s stock valued at $179,000 after purchasing an additional 1,793 shares during the period. Finally, Central Pacific Bank Trust Division boosted its position in SouthState by 15.7% during the 4th quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank’s stock valued at $183,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

SouthState Stock Down 1.6 %

SSB opened at $99.17 on Tuesday. SouthState Co. has a one year low of $70.68 and a one year high of $114.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s fifty day moving average is $101.13 and its 200-day moving average is $100.73. The company has a market capitalization of $10.05 billion, a PE ratio of 14.25 and a beta of 0.70.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. SouthState’s dividend payout ratio is presently 31.03%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SSB shares. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Stephens reaffirmed an “overweight” rating and set a $130.00 target price on shares of SouthState in a research note on Friday, January 24th. Citigroup raised SouthState from a “neutral” rating to a “buy” rating and lifted their target price for the company from $106.00 to $128.00 in a research note on Monday, January 27th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 target price (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Finally, 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 on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

Insider Transactions at SouthState

In other news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the sale, the chief financial officer now owns 34,107 shares of the company’s stock, valued at approximately $3,693,447.03. The trade was a 16.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sara Arana sold 1,991 shares of SouthState stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the completion of the transaction, the chief accounting officer now owns 4,787 shares in the company, valued at $482,433.86. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

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.