International Assets Investment Management LLC Has $107,000 Stake in SouthState Co. (NASDAQ:SSB)

International Assets Investment Management LLC grew its stake in SouthState Co. (NASDAQ:SSB) by 8,346.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,267 shares of the bank’s stock after acquiring an additional 1,252 shares during the period. International Assets Investment Management LLC’s holdings in SouthState were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SSB. Victory Capital Management Inc. raised its stake in SouthState by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,884,632 shares of the bank’s stock valued at $194,309,000 after buying an additional 35,291 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in SouthState by 4.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,187,264 shares of the bank’s stock valued at $79,974,000 after purchasing an additional 49,472 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in SouthState by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 979,859 shares of the bank’s stock worth $66,003,000 after purchasing an additional 14,153 shares during the period. New York State Common Retirement Fund increased its holdings in shares of SouthState by 0.9% in the third quarter. New York State Common Retirement Fund now owns 328,123 shares of the bank’s stock valued at $22,102,000 after purchasing an additional 2,920 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of SouthState by 5.4% in the third quarter. Sei Investments Co. now owns 286,177 shares of the bank’s stock valued at $19,277,000 after purchasing an additional 14,688 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Buying and Selling at SouthState

In related news, insider Daniel E. Bockhorst sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the sale, the insider now directly owns 35,828 shares in the company, valued at approximately $2,902,068. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the sale, the insider now directly owns 35,828 shares of the company’s stock, valued at approximately $2,902,068. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard Iv Murray sold 4,900 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total transaction of $401,065.00. Following the completion of the transaction, the president now directly owns 58,968 shares of the company’s stock, valued at approximately $4,826,530.80. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

SouthState Stock Performance

NASDAQ:SSB opened at $77.08 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.89 and a current ratio of 0.89. SouthState Co. has a fifty-two week low of $59.51 and a fifty-two week high of $87.77. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 12.57 and a beta of 0.74. The stock has a fifty day moving average price of $81.23 and a 200-day moving average price of $79.09.

SouthState (NASDAQ:SSB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03. SouthState had a net margin of 20.91% and a return on equity of 9.24%. The firm had revenue of $415.49 million for the quarter, compared to the consensus estimate of $414.32 million. During the same period in the prior year, the company posted $1.93 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities analysts anticipate that SouthState Co. will post 6.48 EPS for the current fiscal year.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, May 9th. SouthState’s payout ratio is presently 33.93%.

Analyst Upgrades and Downgrades

SSB has been the topic of a number of research reports. DA Davidson reiterated a “buy” rating and issued a $102.00 price target (up previously from $96.00) on shares of SouthState in a research note on Monday, January 29th. Raymond James lowered SouthState from an “outperform” rating to a “market perform” rating in a research note on Friday, January 5th. UBS Group boosted their price target on SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Truist Financial lowered their price objective on SouthState from $89.00 to $84.00 and set a “hold” rating on the stock in a research report on Monday. Finally, Piper Sandler reduced their target price on shares of SouthState from $98.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $88.17.

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.