2,960 Shares in SouthState Co. (NASDAQ:SSB) Acquired by Praxis Investment Management Inc.

Praxis Investment Management Inc. purchased a new position in shares of SouthState Co. (NASDAQ:SSBFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,960 shares of the bank’s stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of SouthState by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 1,913,615 shares of the bank’s stock worth $192,531,000 after buying an additional 93,312 shares during the last quarter. Northern Trust Corp grew its holdings in SouthState by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,111,758 shares of the bank’s stock valued at $110,598,000 after purchasing an additional 95,841 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in SouthState by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,039,891 shares of the bank’s stock valued at $103,448,000 after purchasing an additional 52,042 shares during the period. Fisher Asset Management LLC grew its holdings in SouthState by 19.6% during the fourth quarter. Fisher Asset Management LLC now owns 851,455 shares of the bank’s stock valued at $84,703,000 after purchasing an additional 139,602 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in SouthState by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 842,498 shares of the bank’s stock valued at $83,812,000 after purchasing an additional 37,796 shares during the period. 89.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of SouthState in a report on Wednesday, May 21st. They set a “buy” rating and a $110.00 price objective for the company. Raymond James Financial set a $110.00 price objective on shares of SouthState in a report on Monday, April 28th. DA Davidson decreased their price objective on shares of SouthState from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 28th. Stephens restated an “overweight” rating and set a $119.00 price objective on shares of SouthState in a report on Monday, April 28th. Finally, Barclays reduced their price target on shares of SouthState from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SouthState has an average rating of “Buy” and an average price target of $116.27.

Get Our Latest Report on SSB

SouthState Stock Down 0.1%

SouthState stock opened at $85.99 on Monday. SouthState Co. has a twelve month low of $72.74 and a twelve month high of $114.27. The company has a 50 day moving average of $87.96 and a 200-day moving average of $94.48. The stock has a market capitalization of $8.73 billion, a PE ratio of 12.36 and a beta of 0.77. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.51%. SouthState’s dividend payout ratio is 34.12%.

About SouthState

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for SouthState (NASDAQ:SSB)

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