Hantz Financial Services Inc. Sells 1,711 Shares of SouthState Co. (NASDAQ:SSB)

Hantz Financial Services Inc. lowered its holdings in SouthState Co. (NASDAQ:SSB) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,949 shares of the bank’s stock after selling 1,711 shares during the quarter. Hantz Financial Services Inc.’s holdings in SouthState were worth $3,785,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Waldron Private Wealth LLC bought a new stake in shares of SouthState during the 3rd quarter worth $35,000. UMB Bank n.a. lifted its stake 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 purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of SouthState by 120.7% in the 2nd quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock worth $47,000 after purchasing an additional 333 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SouthState during the 2nd quarter valued at about $97,000. Finally, International Assets Investment Management LLC raised its holdings in shares of SouthState by 9,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after buying an additional 1,443 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Insider Activity

In other news, insider Daniel E. Bockhorst sold 2,500 shares of SouthState stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares in the company, valued at approximately $3,332,800. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $100.00, for a total value of $500,000.00. Following the completion of the sale, the chief financial officer now owns 36,964 shares in the company, valued at $3,696,400. The trade was a 11.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Truist Financial lowered their price target on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Stephens raised their price objective on SouthState from $101.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Piper Sandler increased their target price on SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $105.11.

SouthState Stock Down 0.5 %

Shares of SouthState stock opened at $110.69 on Friday. The company’s fifty day simple moving average is $101.45 and its two-hundred day simple moving average is $90.98. SouthState Co. has a 12-month low of $70.68 and a 12-month high of $114.26. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The company has a market cap of $8.44 billion, a P/E ratio of 17.08 and a beta of 0.66.

SouthState (NASDAQ:SSB) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 EPS for the quarter, topping the consensus estimate of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The business had revenue of $426.41 million during the quarter, compared to analyst estimates of $429.47 million. During the same period last year, the business posted $1.62 earnings per share. SouthState’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts anticipate that SouthState Co. will post 6.94 EPS for the current year.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, November 8th. SouthState’s dividend payout ratio is currently 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.