New York State Common Retirement Fund boosted its holdings in SouthState Co. (NASDAQ:SSB – Get Rating) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 639,836 shares of the bank’s stock after purchasing an additional 2,169 shares during the quarter. New York State Common Retirement Fund owned about 0.85% of SouthState worth $48,858,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wipfli Financial Advisors LLC purchased a new stake in SouthState during the 3rd quarter valued at about $29,000. Exchange Traded Concepts LLC purchased a new stake in shares of SouthState during the third quarter valued at approximately $31,000. Rockefeller Capital Management L.P. increased its position in shares of SouthState by 244.0% during the third quarter. Rockefeller Capital Management L.P. now owns 430 shares of the bank’s stock valued at $34,000 after acquiring an additional 305 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in SouthState in the 1st quarter worth approximately $54,000. Finally, Lazard Asset Management LLC bought a new position in SouthState in the 1st quarter valued at approximately $76,000. Institutional investors own 80.28% of the company’s stock.
Insider Buying and Selling at SouthState
In other news, Chairman Robert R. Hill, Jr. sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $77.00, for a total value of $1,925,000.00. Following the completion of the transaction, the chairman now owns 55,100 shares of the company’s stock, valued at $4,242,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Robert R. Hill, Jr. sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $77.00, for a total transaction of $1,925,000.00. Following the completion of the transaction, the chairman now owns 55,100 shares in the company, valued at $4,242,700. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas Lloyd Williams sold 23,400 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 15,760 shares of the company’s stock, valued at approximately $1,339,757.60. The disclosure for this sale can be found here. Insiders have sold a total of 122,836 shares of company stock valued at $9,974,384 over the last ninety days. 1.26% of the stock is currently owned by company insiders.
Analyst Ratings Changes
SouthState Price Performance
Shares of NASDAQ:SSB opened at $68.57 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $5.20 billion, a PE ratio of 10.41 and a beta of 0.79. The firm’s 50 day moving average price is $76.08 and its 200-day moving average price is $80.12. SouthState Co. has a twelve month low of $66.56 and a twelve month high of $91.74.
SouthState (NASDAQ:SSB – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The bank reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.16). SouthState had a return on equity of 10.56% and a net margin of 29.01%. The business had revenue of $459.40 million for the quarter, compared to analysts’ expectations of $447.26 million. During the same quarter in the prior year, the business earned $1.59 EPS. The company’s revenue was up 31.3% compared to the same quarter last year. Equities research analysts expect that SouthState Co. will post 7.56 EPS for the current year.
SouthState Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Friday, February 10th were paid a $0.50 dividend. The ex-dividend date was Thursday, February 9th. This represents a $2.00 dividend on an annualized basis and a yield of 2.92%. SouthState’s payout ratio is presently 30.35%.
SouthState Profile
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.
Read More
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