Stephens Inc. AR Trims Stock Position in SouthState Co. (NASDAQ:SSB)

Stephens Inc. AR cut its position in shares of SouthState Co. (NASDAQ:SSB) by 32.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,052 shares of the bank’s stock after selling 986 shares during the period. Stephens Inc. AR’s holdings in SouthState were worth $204,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BIP Wealth LLC raised its stake in shares of SouthState by 605.2% in the 3rd quarter. BIP Wealth LLC now owns 31,422 shares of the bank’s stock valued at $3,054,000 after acquiring an additional 26,966 shares during the period. Stifel Financial Corp raised its stake in shares of SouthState by 10.5% in the 3rd quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock valued at $6,178,000 after acquiring an additional 6,062 shares during the period. JPMorgan Chase & Co. raised 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 valued at $39,736,000 after acquiring an additional 9,863 shares during the period. Fisher Asset Management LLC raised its stake in shares of SouthState by 3.7% in the 3rd 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 during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of SouthState in the 4th quarter valued at approximately $1,008,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the completion of the sale, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

SouthState Trading Down 0.5 %

NASDAQ SSB opened at $102.20 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a 52 week low of $70.68 and a 52 week high of $114.26. The stock has a market capitalization of $7.80 billion, a PE ratio of 14.68 and a beta of 0.70. The firm has a 50 day moving average of $102.15 and a two-hundred day moving average of $99.90.

SouthState Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were issued 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 dividend payout ratio (DPR) is presently 31.03%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SSB shares. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of SouthState in a research note on Friday, January 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and upped their target price for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. UBS Group assumed coverage on shares of SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price on the stock. Finally, Truist Financial cut their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.