Virtu Financial LLC acquired a new position in shares of SouthState Co. (NASDAQ:SSB – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,132 shares of the bank’s stock, valued at approximately $349,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of SouthState in the fourth quarter valued at about $75,485,000. Franklin Resources Inc. boosted its position in shares of SouthState by 26.8% in the fourth quarter. Franklin Resources Inc. now owns 2,208,224 shares of the bank’s stock valued at $186,485,000 after acquiring an additional 466,144 shares during the period. Capital World Investors boosted its position in shares of SouthState by 31.8% in the fourth quarter. Capital World Investors now owns 620,510 shares of the bank’s stock valued at $52,402,000 after acquiring an additional 149,745 shares during the period. Capital International Investors boosted its position in shares of SouthState by 24.2% in the fourth quarter. Capital International Investors now owns 596,520 shares of the bank’s stock valued at $50,376,000 after acquiring an additional 116,313 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of SouthState by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,882,211 shares of the bank’s stock valued at $243,408,000 after acquiring an additional 94,637 shares during the period. 89.76% of the stock is owned by institutional investors.
SouthState Stock Up 0.5 %
Shares of NASDAQ SSB opened at $73.06 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 11.92 and a beta of 0.71. SouthState Co. has a 12 month low of $63.36 and a 12 month high of $87.77. The stock has a 50-day moving average price of $77.25 and a two-hundred day moving average price of $80.70.
SouthState Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, May 9th. SouthState’s payout ratio is 33.93%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on SSB shares. Piper Sandler boosted their target price on shares of SouthState from $95.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Raymond James raised shares of SouthState from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods boosted their price target on SouthState from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Finally, Truist Financial dropped their price target on SouthState from $89.00 to $84.00 and set a “hold” rating for the company in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $91.00.
Get Our Latest Stock Report on SouthState
About SouthState
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.
Featured Articles
- Five stocks we like better than SouthState
- Basic Materials Stocks Investing
- Outlook Therapeutics: Analysts Forecast Over 500% Stock Upside
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Campbell Soup Co. Targets Fiscal Q4 Stock Recovery
- What Investors Need to Know About Upcoming IPOs
- Zebra Analysts Upgrade Stock, Forecasting Major Reversal
Receive News & Ratings for SouthState Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SouthState and related companies with MarketBeat.com's FREE daily email newsletter.