In a recent transaction, Daniel E. Bockhorst, Chief Credit Officer of SouthState Corp (NASDAQ:SSB), sold 3,000 shares of the company's common stock. The sale, which took place on March 20, 2024, was executed at a price of $81.00 per share, resulting in a total value of $243,000.
This transaction has adjusted Bockhorst's direct ownership in SouthState Corp, leaving him with a total of 35,828 shares following the sale. The company, known for its operations in the state commercial banks sector, has its shares publicly traded under the ticker symbol SSB on the NASDAQ exchange.
Investors often monitor insider transactions as they may provide insights into the company's performance and the confidence level of its executives. The details of such transactions are typically disclosed through regulatory filings, offering transparency into the trading activities of company insiders.
The sale by Bockhorst is a notable event for shareholders and potential investors, as it reflects a substantial change in his investment in the company. However, it's important to note that insider transactions can occur for a variety of reasons and may not necessarily be indicative of the company's future performance.
SouthState Corp has not made any public comments regarding this transaction at the time of reporting. The company continues to operate in the financial sector, providing banking services and products to its customers.
InvestingPro Insights
Amidst the recent insider transaction by Daniel E. Bockhorst, Chief Credit Officer of SouthState Corp (NASDAQ:SSB), market participants are keen to understand the broader financial context of the company. According to InvestingPro data, SouthState Corp boasts a market capitalization of $6.28 billion USD, reflecting its significant presence in the state commercial banks sector. The company's Price-to-Earnings (P/E) ratio stands at 12.59, with a slight adjustment in the last twelve months as of Q4 2023 to 12.44, suggesting a stable valuation relative to its earnings.
Investors considering the company's financial health will note that SouthState Corp has demonstrated a consistent ability to raise dividends, marking a significant milestone with 12 consecutive years of increased dividend payments, an InvestingPro Tip that signals a strong commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for an impressive 28 consecutive years, reinforcing its reputation for shareholder-friendly policies.
Despite these positive indicators, it is important for investors to be aware of the challenges the company faces. Analysts have revised their earnings expectations downwards for the upcoming period, an InvestingPro Tip that could impact future profitability. Furthermore, SouthState Corp's gross profit margins have been identified as weak, which could affect its bottom line and warrant close monitoring.
For those looking to delve deeper into the financial metrics and gain additional insights, InvestingPro offers more tips on SouthState Corp, which can be accessed at https://www.investing.com/pro/SSB. To enhance your investment research, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.