Hi,
moomoo ID:NaN
Log Out
English
Back
Log in to access Online Inquiry

SouthState Co. (NASDAQ:SSB) Shares Acquired by Amalgamated Bank

Defense World ·  {{timeTz}}

Amalgamated Bank lifted its stake in shares of SouthState Co. (NASDAQ:SSB – Get Rating) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,415 shares of the bank's stock after purchasing an additional 358 shares during the quarter. Amalgamated Bank's holdings in SouthState were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SSB. Sound Income Strategies LLC boosted its position in shares of SouthState by 166.7% in the 1st quarter. Sound Income Strategies LLC now owns 480 shares of the bank's stock worth $39,000 after buying an additional 300 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of SouthState in the 1st quarter worth about $54,000. Rockefeller Capital Management L.P. boosted its position in shares of SouthState by 31.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 730 shares of the bank's stock worth $58,000 after buying an additional 173 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of SouthState in the 1st quarter worth about $76,000. Finally, Carroll Investors Inc purchased a new stake in shares of SouthState in the 4th quarter worth about $87,000. 86.88% of the stock is owned by institutional investors and hedge funds.

Get SouthState alerts:

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Raymond James decreased their price objective on shares of SouthState from $93.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 7th. StockNews.com upgraded shares of SouthState from a "sell" rating to a "hold" rating in a research report on Monday, August 1st. Piper Sandler upgraded shares of SouthState from a "neutral" rating to an "overweight" rating and upped their target price for the company from $92.00 to $96.00 in a report on Wednesday. Finally, Truist Financial upped their target price on shares of SouthState from $90.00 to $97.00 and gave the company a "buy" rating in a report on Monday, August 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.08.

Insider Transactions at SouthState

In other news, Chairman Robert R. Hill, Jr. sold 10,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $83.88, for a total transaction of $838,800.00. Following the transaction, the chairman now directly owns 92,311 shares in the company, valued at approximately $7,743,046.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Greg A. Lapointe sold 304 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $82.99, for a total transaction of $25,228.96. Following the completion of the sale, the insider now owns 24,680 shares of the company's stock, valued at approximately $2,048,193.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert R. Hill, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $83.88, for a total transaction of $838,800.00. Following the sale, the chairman now directly owns 92,311 shares of the company's stock, valued at approximately $7,743,046.68. The disclosure for this sale can be found here. Insiders have sold a total of 55,704 shares of company stock worth $4,714,798 in the last three months. Company insiders own 1.88% of the company's stock.

SouthState Price Performance

NASDAQ:SSB opened at $79.12 on Friday. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 12.72 and a beta of 0.82. SouthState Co. has a 12-month low of $72.25 and a 12-month high of $93.34. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.06. The company's 50-day moving average is $81.47 and its two-hundred day moving average is $79.61.

SouthState (NASDAQ:SSB – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The bank reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.09. The business had revenue of $383.29 million for the quarter, compared to analyst estimates of $390.97 million. SouthState had a net margin of 30.18% and a return on equity of 9.98%. The company's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. Research analysts expect that SouthState Co. will post 7.17 EPS for the current year.

SouthState Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 12th were issued a dividend of $0.50 per share. This is a positive change from SouthState's previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, August 11th. SouthState's dividend payout ratio is presently 32.15%.

SouthState Company Profile

(Get Rating)

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 accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.

See Also

  • Get a free copy of the StockNews.com research report on SouthState (SSB)
  • EV Battery Maker Freyr Set For Major Global Expansion
  • MarketBeat: Week in Review 9/26 – 9/30
  • This Is A Memorable Time To Buy Into Micron Technology
  • How Does Keurig Dr Pepper Compare To Larger Rivals Coke & Pepsi?
  • Declining Profits Challenge the CarMax Value Proposition

Receive News & Ratings for SouthState Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SouthState and related companies with MarketBeat.com's FREE daily email newsletter.

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.