Blue Trust Inc. Sells 115 Shares of SouthState Co. (NASDAQ:SSB)

Blue Trust Inc. lessened its position in SouthState Co. (NASDAQ:SSB) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 879 shares of the bank’s stock after selling 115 shares during the quarter. Blue Trust Inc.’s holdings in SouthState were worth $87,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. BIP Wealth LLC grew its position in SouthState by 605.2% in the 3rd quarter. BIP Wealth LLC now owns 31,422 shares of the bank’s stock worth $3,054,000 after purchasing an additional 26,966 shares during the last quarter. Stifel Financial Corp grew its position in SouthState by 10.5% in the 3rd quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock worth $6,178,000 after purchasing an additional 6,062 shares during the last quarter. JPMorgan Chase & Co. grew its position in SouthState by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,894 shares of the bank’s stock worth $39,736,000 after purchasing an additional 9,863 shares during the last quarter. Fisher Asset Management LLC grew its position in SouthState by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock worth $69,178,000 after purchasing an additional 25,495 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in SouthState in the 4th quarter worth $1,008,000. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Citigroup upgraded shares of 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 report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of SouthState in a research report on Friday, January 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 target price (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Finally, UBS Group assumed coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, SouthState currently has a consensus rating of “Moderate Buy” and an average price target of $115.44.

SouthState Trading Down 2.1 %

SSB opened at $99.19 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 14.25 and a beta of 0.70. The firm has a 50 day simple moving average of $101.46 and a 200 day simple moving average of $100.23. SouthState Co. has a fifty-two week low of $70.68 and a fifty-two week high of $114.26.

SouthState Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.54 per share. 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 (DPR) is 31.03%.

Insider Activity at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the transaction, the chief financial officer now owns 34,107 shares in the company, valued at approximately $3,693,447.03. The trade was a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.