SouthState Co. (NASDAQ:SSB) Insider Greg A. Lapointe Sells 2,600 Shares of Stock

SouthState Co. (NASDAQ:SSBGet Free Report) insider Greg A. Lapointe sold 2,600 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $75.82, for a total value of $197,132.00. Following the sale, the insider now directly owns 21,076 shares of the company’s stock, valued at $1,597,982.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

SouthState Price Performance

SouthState stock opened at $74.95 on Friday. SouthState Co. has a 12 month low of $59.51 and a 12 month high of $88.29. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $68.45 and its 200 day simple moving average is $69.30. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 10.78 and a beta of 0.79.

SouthState (NASDAQ:SSBGet Free Report) last posted its quarterly earnings data on Friday, October 27th. The bank reported $1.62 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.01). SouthState had a net margin of 24.84% and a return on equity of 10.38%. The firm had revenue of $573.36 million during the quarter, compared to analysts’ expectations of $429.70 million. During the same quarter in the previous year, the company posted $1.89 EPS. Sell-side analysts forecast that SouthState Co. will post 6.71 EPS for the current year.

SouthState Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.08 annualized dividend and a yield of 2.78%. SouthState’s payout ratio is 29.93%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SSB shares. started coverage on SouthState in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Truist Financial downgraded SouthState from a “buy” rating to a “hold” rating and cut their target price for the stock from $86.00 to $73.00 in a research note on Wednesday, September 27th. Finally, Raymond James cut their target price on SouthState from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from, SouthState currently has an average rating of “Hold” and a consensus target price of $80.50.

Check Out Our Latest Stock Report on SouthState

Hedge Funds Weigh In On SouthState

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of SouthState by 2.7% during the second quarter. BlackRock Inc. now owns 9,170,726 shares of the bank’s stock worth $603,434,000 after acquiring an additional 243,709 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of SouthState by 3.7% in the third quarter. Vanguard Group Inc. now owns 8,205,703 shares of the bank’s stock worth $649,235,000 after purchasing an additional 290,494 shares during the period. Capital Research Global Investors increased its holdings in shares of SouthState by 30.9% in the first quarter. Capital Research Global Investors now owns 4,051,286 shares of the bank’s stock worth $330,544,000 after purchasing an additional 955,920 shares during the period. State Street Corp increased its holdings in shares of SouthState by 8.8% in the second quarter. State Street Corp now owns 3,703,130 shares of the bank’s stock worth $243,666,000 after purchasing an additional 300,359 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of SouthState by 1.2% in the third quarter. Victory Capital Management Inc. now owns 2,884,632 shares of the bank’s stock worth $194,309,000 after purchasing an additional 35,291 shares during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.

SouthState Company Profile

(Get 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.

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Insider Buying and Selling by Quarter for SouthState (NASDAQ:SSB)

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