SouthState Co. (NASDAQ:SSB) Receives $87.80 Average Price Target from Brokerages

Shares of SouthState Co. (NASDAQ:SSB) have received a consensus rating of “Hold” from the five ratings firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $87.80.

Several equities research analysts recently weighed in on SSB shares. UBS Group raised their price objective on SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Truist Financial lowered their target price on SouthState from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Monday, April 1st. DA Davidson reaffirmed a “buy” rating and set a $102.00 target price (up from $96.00) on shares of SouthState in a research report on Monday, January 29th. Finally, Raymond James lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th.

SouthState Trading Up 0.4 %

Shares of SSB stock opened at $80.14 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. SouthState has a fifty-two week low of $59.51 and a fifty-two week high of $87.77. The company has a market cap of $6.11 billion, a PE ratio of 12.41 and a beta of 0.74. The stock’s fifty day moving average price is $81.70 and its two-hundred day moving average price is $78.80.

SouthState (NASDAQ:SSB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.13. SouthState had a return on equity of 9.85% and a net margin of 22.15%. The company had revenue of $419.72 million for the quarter, compared to the consensus estimate of $419.08 million. Equities analysts predict that SouthState will post 6.51 EPS for the current fiscal year.

Insider Transactions at SouthState

In other news, President Richard Iv Murray sold 4,900 shares of SouthState stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.85, for a total value of $401,065.00. Following the completion of the transaction, the president now directly owns 58,968 shares of the company’s stock, valued at approximately $4,826,530.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the transaction, the insider now directly owns 35,828 shares of the company’s stock, valued at approximately $2,902,068. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Richard Iv Murray sold 4,900 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total value of $401,065.00. Following the completion of the sale, the president now directly owns 58,968 shares of the company’s stock, valued at $4,826,530.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,925 shares of company stock valued at $988,686. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of SouthState

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. increased its position in SouthState by 0.7% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 19,019 shares of the bank’s stock valued at $1,606,000 after buying an additional 131 shares in the last quarter. Sheets Smith Wealth Management increased its holdings in SouthState by 3.0% during the 3rd quarter. Sheets Smith Wealth Management now owns 5,863 shares of the bank’s stock worth $395,000 after purchasing an additional 171 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in SouthState by 5.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,608 shares of the bank’s stock worth $305,000 after purchasing an additional 175 shares in the last quarter. Red Spruce Capital LLC increased its holdings in SouthState by 0.6% during the 4th quarter. Red Spruce Capital LLC now owns 29,465 shares of the bank’s stock worth $2,488,000 after purchasing an additional 179 shares in the last quarter. Finally, Prospector Partners LLC increased its holdings in SouthState by 0.3% during the 3rd quarter. Prospector Partners LLC now owns 76,197 shares of the bank’s stock worth $5,133,000 after purchasing an additional 200 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

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.