2,144 Shares in SouthState Co. (NASDAQ:SSB) Acquired by Intrust Bank NA

Intrust Bank NA bought a new stake in SouthState Co. (NASDAQ:SSB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,144 shares of the bank’s stock, valued at approximately $213,000.

Other large investors also recently added to or reduced their stakes in the company. Stifel Financial Corp boosted its stake in shares of SouthState by 10.5% in the third quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock valued at $6,178,000 after purchasing an additional 6,062 shares during the period. JPMorgan Chase & Co. boosted its position in SouthState by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 408,894 shares of the bank’s stock valued at $39,736,000 after buying an additional 9,863 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of SouthState in the fourth quarter worth $1,008,000. HighTower Advisors LLC grew its stake in shares of SouthState by 7.6% in the third quarter. HighTower Advisors LLC now owns 11,153 shares of the bank’s stock worth $1,083,000 after acquiring an additional 787 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of SouthState during the third quarter worth $265,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Stock Performance

Shares of SouthState stock opened at $92.32 on Monday. The firm has a market capitalization of $9.36 billion, a P/E ratio of 13.26 and a beta of 0.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState Co. has a 52 week low of $70.68 and a 52 week high of $114.27. The firm’s 50 day moving average is $99.06 and its two-hundred day moving average is $100.59.

SouthState Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, February 7th. This represents a $2.16 annualized dividend and a yield of 2.34%. SouthState’s dividend payout ratio is currently 31.03%.

Insider Activity at SouthState

In other news, Director G Stacy Smith acquired 3,100 shares of SouthState stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $93.60 per share, for a total transaction of $290,160.00. Following the completion of the purchase, the director now owns 36,779 shares in the company, valued at $3,442,514.40. This represents a 9.20 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Janet P. Froetscher bought 2,717 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $92.02 per share, for a total transaction of $250,018.34. Following the completion of the transaction, the director now owns 4,689 shares of the company’s stock, valued at approximately $431,481.78. The trade was a 137.78 % increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SSB has been the subject of several analyst reports. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research note on Friday, March 7th. Finally, Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and upped their target price for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

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.