US stock futures dip as Trump’s firing of Cook sparks Fed independence fears
Janet Froetscher, a director at SouthState Corp (NASDAQ:SSB), has recently purchased a significant amount of the company’s common stock. According to a recent SEC filing, Froetscher acquired 2,717 shares at a price of $92.02 per share, totaling approximately $250,018. The purchase comes as the stock has fallen significantly over the past three months, with shares currently trading near $90.49. InvestingPro analysis indicates the stock is currently trading slightly below its Fair Value. This transaction increases her direct ownership to 4,689 shares. The purchase was executed on March 10, 2025. The company maintains a solid dividend track record, having raised its dividend for 13 consecutive years, with a current yield of 2.39%. InvestingPro subscribers have access to 8 additional key insights about SSB, including detailed financial health metrics and comprehensive valuation analysis through the Pro Research Report, available for over 1,400 US stocks.
In other recent news, South State (NYSE:SSB) Corporation reported strong financial results for the fourth quarter of 2024, surpassing both earnings and revenue expectations. The company achieved an earnings per share (EPS) of $1.93, exceeding the forecasted $1.66, while revenue reached $450.32 million, beating the anticipated $435.94 million. Additionally, South State finalized a branch sale-leaseback transaction, resulting in a pre-tax gain of approximately $229 million, which aligns with a securities restructuring of a similar amount. The Federal Reserve Board has also given the nod to South State’s 2025 stock repurchase program, allowing the company to buy back up to 3 million shares, representing about 3% of its outstanding shares. Analyst Benjamin Gerlinger from Citi adjusted the stock price target for South State, reducing it from $128.00 to $123.00, while maintaining a "Buy" rating. This adjustment follows the company’s recent financial maneuvers, including the branch sale-leaseback and securities restructuring. South State’s successful acquisition of Independent (LON:IOG) Financial is expected to bolster its market position, particularly in high-growth areas such as Texas and the Southeastern U.S. The company anticipates mid-single-digit loan growth in 2025, with a focus on expanding its presence in high-growth markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.