Douglas Lloyd Williams Sells 23,400 Shares of SouthState Co. (NASDAQ:SSB) Stock

SouthState Co. (NASDAQ:SSBGet Rating) insider Douglas Lloyd Williams sold 23,400 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $85.01, for a total value of $1,989,234.00. Following the completion of the transaction, the insider now directly owns 15,760 shares in the company, valued at approximately $1,339,757.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SouthState Stock Down 0.4 %

Shares of SSB opened at $79.57 on Thursday. The company has a 50-day simple moving average of $79.48 and a 200-day simple moving average of $81.70. The firm has a market capitalization of $6.04 billion, a P/E ratio of 12.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.85 and a current ratio of 0.85. SouthState Co. has a 52 week low of $72.25 and a 52 week high of $91.74.

SouthState (NASDAQ:SSBGet Rating) last announced its quarterly earnings data on Friday, January 27th. The bank reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.16). The company had revenue of $459.40 million for the quarter, compared to analyst estimates of $447.26 million. SouthState had a net margin of 29.01% and a return on equity of 10.56%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 EPS. On average, equities research analysts expect that SouthState Co. will post 8.12 earnings per share for the current year.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Friday, February 10th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Thursday, February 9th. SouthState’s dividend payout ratio is currently 30.35%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SSB shares. StockNews.com raised SouthState from a “sell” rating to a “hold” rating in a report on Wednesday, March 1st. Keefe, Bruyette & Woods lowered their price objective on shares of SouthState from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 31st. Truist Financial lowered their price target on shares of SouthState from $96.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. Finally, Raymond James lowered their price target on shares of SouthState from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.60.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SSB. Wagner Wealth Management LLC acquired a new position in SouthState in the second quarter worth about $28,000. Wipfli Financial Advisors LLC acquired a new position in SouthState in the third quarter worth about $29,000. Exchange Traded Concepts LLC acquired a new position in SouthState in the third quarter worth about $31,000. Rockefeller Capital Management L.P. raised its position in SouthState by 244.0% in the third quarter. Rockefeller Capital Management L.P. now owns 430 shares of the bank’s stock worth $34,000 after purchasing an additional 305 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its stake in SouthState by 233.5% during the second quarter. Pinebridge Investments L.P. now owns 667 shares of the bank’s stock worth $51,000 after buying an additional 467 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

SouthState Company Profile

(Get Rating)

South State Corp. is a bank and financial holding company, which engages in the provision of banking services and products to customers through its subsidiary. Its services include demand, time, and savings deposits, lending and credit card servicing, ATM processing, mortgage banking services, correspondent banking services and wealth management, and trust services.

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Insider Buying and Selling by Quarter for SouthState (NASDAQ:SSB)

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