Segall Bryant & Hamill LLC Sells 3,810 Shares of SouthState Co. (NASDAQ:SSB)

Segall Bryant & Hamill LLC trimmed its position in shares of SouthState Co. (NASDAQ:SSB) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 618,274 shares of the bank’s stock after selling 3,810 shares during the period. SouthState makes up approximately 0.8% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 13th biggest holding. Segall Bryant & Hamill LLC’s holdings in SouthState were worth $61,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSB. Advantage Alpha Capital Partners LP grew its stake in shares of SouthState by 12.9% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 6,329 shares of the bank’s stock worth $630,000 after purchasing an additional 722 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in SouthState during the 4th quarter worth about $1,540,000. Sei Investments Co. grew its position in shares of SouthState by 0.5% in the 4th quarter. Sei Investments Co. now owns 294,950 shares of the bank’s stock valued at $29,342,000 after buying an additional 1,554 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of SouthState in the fourth quarter valued at about $1,045,000. Finally, Xponance Inc. raised its position in shares of SouthState by 4.4% during the fourth quarter. Xponance Inc. now owns 10,770 shares of the bank’s stock worth $1,071,000 after acquiring an additional 452 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Insider Transactions at SouthState

In other news, Director G Stacy Smith purchased 3,100 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $93.60 per share, with a total value of $290,160.00. Following 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William E. V. Matthews sold 6,531 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total value of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares of the company’s stock, valued at $3,693,447.03. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SSB. Stephens reiterated an “overweight” rating and issued a $130.00 target price on shares of SouthState in a report on Friday, March 7th. UBS Group assumed coverage on shares of SouthState in a research report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price target on the stock. Finally, 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 report on Monday, January 27th. Two 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 stock presently has an average rating of “Moderate Buy” and an average target price of $115.44.

SouthState Stock Performance

NASDAQ:SSB opened at $95.05 on Tuesday. 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 twelve month low of $70.68 and a twelve month high of $114.27. The company has a fifty day moving average of $99.46 and a 200-day moving average of $100.57. The firm has a market capitalization of $9.63 billion, a P/E ratio of 13.66 and a beta of 0.68.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.27%. SouthState’s dividend payout ratio is currently 31.03%.

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.