SouthState Co. (NASDAQ:SSB) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC grew its stake in shares of SouthState Co. (NASDAQ:SSB) by 74.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,501 shares of the bank’s stock after purchasing an additional 15,573 shares during the quarter. Natixis Advisors LLC’s holdings in SouthState were worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stifel Financial Corp raised its holdings in SouthState by 10.5% during the third quarter. Stifel Financial Corp now owns 63,573 shares of the bank’s stock worth $6,178,000 after purchasing an additional 6,062 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 9,863 shares during the period. Fisher Asset Management LLC increased its holdings in shares of SouthState by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock valued at $69,178,000 after acquiring an additional 25,495 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of SouthState in the 4th quarter valued at $1,008,000. Finally, HighTower Advisors LLC increased its holdings in shares of SouthState by 7.6% in the 3rd quarter. HighTower Advisors LLC now owns 11,153 shares of the bank’s stock valued at $1,083,000 after acquiring an additional 787 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Sara Arana sold 1,991 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $100.78, for a total value of $200,652.98. Following the sale, the chief accounting officer now directly owns 4,787 shares in the company, valued at $482,433.86. The trade was a 29.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

SouthState Price Performance

Shares of NASDAQ SSB opened at $92.55 on Friday. The firm has a market capitalization of $9.38 billion, a P/E ratio of 13.30 and a beta of 0.68. SouthState Co. has a one year low of $70.68 and a one year high of $114.27. The company’s fifty day moving average is $99.41 and its two-hundred day moving average is $100.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91.

SouthState Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.33%. SouthState’s payout ratio is currently 31.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SSB shares. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and lifted their target price for the company from $106.00 to $128.00 in a report on Monday, January 27th. UBS Group assumed coverage on shares of SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.