Hantz Financial Services Inc. Has $3.58 Million Stake in SouthState Co. (NASDAQ:SSB)

Hantz Financial Services Inc. reduced its position in shares of SouthState Co. (NASDAQ:SSB) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,982 shares of the bank’s stock after selling 2,967 shares during the period. Hantz Financial Services Inc.’s holdings in SouthState were worth $3,579,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Waldron Private Wealth LLC acquired a new position in SouthState during the 3rd quarter worth approximately $35,000. UMB Bank n.a. lifted its position in shares of SouthState by 53.9% in the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after purchasing an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in SouthState during the second quarter worth $97,000. Blue Trust Inc. grew its position in SouthState by 16.8% in the fourth quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after purchasing an additional 167 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in SouthState by 9,620.0% in the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,443 shares in the last quarter. 89.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of SouthState stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the transaction, the chief financial officer now owns 34,107 shares in the company, valued at $3,693,447.03. The trade was a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.26% of the company’s stock.

SouthState Price Performance

Shares of SouthState stock opened at $105.88 on Friday. The company has a 50-day simple moving average of $103.41 and a two-hundred day simple moving average of $98.95. SouthState Co. has a twelve month low of $70.68 and a twelve month high of $114.26. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 16.34 and a beta of 0.70. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.

SouthState Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. SouthState’s dividend payout ratio is currently 33.33%.

Analyst Ratings Changes

A number of research firms have recently commented on SSB. Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $106.00 to $128.00 in a research note on Monday. Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of SouthState in a research note on Friday, January 24th. Piper Sandler lifted their price objective on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group initiated coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

About SouthState

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.