AE Wealth Management LLC Purchases Shares of 4,434 SouthState Co. (NASDAQ:SSB)

AE Wealth Management LLC purchased a new stake in shares of SouthState Co. (NASDAQ:SSBGet Rating) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,434 shares of the bank’s stock, valued at approximately $351,000.

Several other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its holdings in SouthState by 5.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,888 shares of the bank’s stock valued at $1,257,000 after buying an additional 786 shares in the last quarter. Xponance Inc. grew its holdings in SouthState by 3.6% during the 3rd quarter. Xponance Inc. now owns 4,216 shares of the bank’s stock valued at $334,000 after buying an additional 145 shares in the last quarter. HB Wealth Management LLC grew its holdings in SouthState by 3.0% during the 3rd quarter. HB Wealth Management LLC now owns 13,597 shares of the bank’s stock valued at $1,076,000 after buying an additional 401 shares in the last quarter. Bailard Inc. purchased a new position in SouthState during the 3rd quarter valued at approximately $425,000. Finally, Phocas Financial Corp. purchased a new position in SouthState during the 3rd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.

Insider Buying and Selling at SouthState

In other SouthState news, insider Douglas Lloyd Williams sold 2,600 shares of SouthState stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $88.23, for a total transaction of $229,398.00. Following the completion of the sale, the insider now directly owns 30,719 shares of the company’s stock, valued at approximately $2,710,337.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Douglas Lloyd Williams sold 2,600 shares of the business’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $88.23, for a total value of $229,398.00. Following the completion of the transaction, the insider now directly owns 30,719 shares of the company’s stock, valued at approximately $2,710,337.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert R. Horger sold 3,630 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $89.00, for a total value of $323,070.00. Following the completion of the transaction, the director now directly owns 29,834 shares of the company’s stock, valued at $2,655,226. The disclosure for this sale can be found here. Insiders sold a total of 25,849 shares of company stock valued at $2,300,598 in the last ninety days. Corporate insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Piper Sandler upgraded SouthState from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $92.00 to $96.00 in a report on Wednesday, September 28th. Truist Financial dropped their target price on SouthState from $103.00 to $96.00 in a report on Friday, December 9th. Raymond James lifted their target price on SouthState from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, October 26th. Finally, StockNews.com assumed coverage on SouthState in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.25.

SouthState Price Performance

SSB opened at $81.95 on Tuesday. The business has a fifty day moving average of $81.59 and a 200 day moving average of $81.90. SouthState Co. has a 52-week low of $72.25 and a 52-week high of $93.34. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.20 billion, a P/E ratio of 13.15 and a beta of 0.81.

SouthState (NASDAQ:SSBGet Rating) last issued its earnings results on Monday, October 24th. The bank reported $1.89 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.89. The business had revenue of $435.39 million during the quarter, compared to analyst estimates of $425.77 million. SouthState had a return on equity of 10.05% and a net margin of 29.04%. During the same period in the previous year, the company posted $1.94 EPS. As a group, sell-side analysts anticipate that SouthState Co. will post 7.21 EPS for the current year.

SouthState Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, November 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Wednesday, November 9th. SouthState’s dividend payout ratio (DPR) is presently 32.10%.

SouthState Profile

(Get Rating)

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 accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.

Featured Articles

Want to see what other hedge funds are holding SSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SouthState Co. (NASDAQ:SSBGet Rating).

Institutional Ownership by Quarter for SouthState (NASDAQ:SSB)

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.