Xponance Inc. Grows Stock Holdings in SouthState Co. (NASDAQ:SSB)

Xponance Inc. raised its holdings in shares of SouthState Co. (NASDAQ:SSB) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,183 shares of the bank’s stock after acquiring an additional 252 shares during the quarter. Xponance Inc.’s holdings in SouthState were worth $944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of SouthState in the third quarter worth about $1,430,000. UMB Bank n.a. lifted its stake in SouthState by 216.5% in the 3rd quarter. UMB Bank n.a. now owns 1,880 shares of the bank’s stock worth $127,000 after purchasing an additional 1,286 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in SouthState by 8.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 14,871 shares of the bank’s stock valued at $1,002,000 after purchasing an additional 1,165 shares during the period. Sheets Smith Wealth Management grew its position in shares of SouthState by 3.0% during the 3rd quarter. Sheets Smith Wealth Management now owns 5,863 shares of the bank’s stock valued at $395,000 after purchasing an additional 171 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of SouthState by 2.0% in the third quarter. FinTrust Capital Advisors LLC now owns 11,479 shares of the bank’s stock worth $773,000 after purchasing an additional 221 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Buying and Selling

In other SouthState news, insider Daniel E. Bockhorst sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the sale, the insider now directly owns 35,828 shares in the company, valued at $2,902,068. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other SouthState news, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total value of $243,000.00. Following the transaction, the insider now directly owns 35,828 shares of the company’s stock, valued at approximately $2,902,068. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Renee R. Brooks sold 4,025 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $85.62, for a total value of $344,620.50. Following the sale, the chief operating officer now directly owns 31,747 shares of the company’s stock, valued at approximately $2,718,178.14. The disclosure for this sale can be found here. Insiders have sold a total of 11,925 shares of company stock worth $988,686 in the last 90 days. 1.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James cut SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th. Truist Financial decreased their price objective on shares of SouthState from $90.00 to $89.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. UBS Group lifted their target price on shares of SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, DA Davidson reissued a “buy” rating and issued a $102.00 price target (up previously from $96.00) on shares of SouthState in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.80.

SouthState Stock Performance

NASDAQ:SSB opened at $79.09 on Friday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 12.24 and a beta of 0.74. The business has a 50 day moving average of $81.68 and a 200 day moving average of $78.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.88. SouthState Co. has a 1-year low of $59.51 and a 1-year high of $87.77.

SouthState (NASDAQ:SSB) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.13. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The firm had revenue of $419.72 million during the quarter, compared to analyst estimates of $419.08 million. On average, sell-side analysts predict that SouthState Co. will post 6.51 earnings per share for the current fiscal year.

SouthState 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.