Hunter Perkins Capital Management LLC Has $3.19 Million Position in SouthState Co. (NASDAQ:SSB)

Hunter Perkins Capital Management LLC cut its stake in shares of SouthState Co. (NASDAQ:SSB) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,035 shares of the bank’s stock after selling 1,255 shares during the period. Hunter Perkins Capital Management LLC’s holdings in SouthState were worth $3,187,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in SouthState by 16.8% during the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock worth $113,000 after purchasing an additional 167 shares during the last quarter. Chicago Partners Investment Group LLC boosted its position in shares of SouthState by 7.0% in the third quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank’s stock valued at $274,000 after acquiring an additional 186 shares during the period. UMB Bank n.a. increased its position in SouthState by 53.9% during the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after acquiring an additional 192 shares during the period. Sheets Smith Wealth Management increased its position in SouthState by 4.1% during the fourth quarter. Sheets Smith Wealth Management now owns 5,929 shares of the bank’s stock worth $590,000 after acquiring an additional 232 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in SouthState by 15.7% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,840 shares of the bank’s stock worth $183,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Wall Street Analysts Forecast Growth

SSB has been the topic of several recent research reports. Truist Financial lowered their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. UBS Group initiated coverage on SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price objective for the company. Stephens reissued an “overweight” rating and set a $130.00 target price on shares of SouthState in a report on Friday. Finally, Piper Sandler boosted their price target on SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.56.

SouthState Stock Performance

NASDAQ:SSB opened at $103.29 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.88 billion, a PE ratio of 14.33 and a beta of 0.70. SouthState Co. has a twelve month low of $70.68 and a twelve month high of $114.26. The stock’s 50-day simple moving average is $103.32 and its 200 day simple moving average is $98.51.

SouthState Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

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.