Equities research analysts predict that SouthState Co. (NASDAQ:SSB – Get Rating) will post sales of $386.50 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for SouthState’s earnings, with estimates ranging from $381.50 million to $391.30 million. SouthState posted sales of $332.15 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that SouthState will report full year sales of $1.55 billion for the current year, with estimates ranging from $1.53 billion to $1.58 billion. For the next fiscal year, analysts expect that the company will post sales of $1.73 billion, with estimates ranging from $1.67 billion to $1.79 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover SouthState.
SouthState (NASDAQ:SSB – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The bank reported $1.69 EPS for the quarter, topping the consensus estimate of $1.31 by $0.38. SouthState had a net margin of 30.19% and a return on equity of 10.33%. The firm had revenue of $347.56 million during the quarter, compared to analyst estimates of $349.97 million. During the same quarter in the prior year, the business posted $2.17 earnings per share. SouthState’s revenue for the quarter was down 3.0% compared to the same quarter last year.
In other SouthState news, insider Greg A. Lapointe sold 1,470 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $82.15, for a total transaction of $120,760.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Lloyd Williams sold 4,950 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $85.02, for a total transaction of $420,849.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,831 shares of company stock worth $667,280. Corporate insiders own 1.88% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of SouthState by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 7,914,710 shares of the bank’s stock valued at $645,762,000 after purchasing an additional 1,114,653 shares in the last quarter. BlackRock Inc. increased its position in shares of SouthState by 3.6% in the first quarter. BlackRock Inc. now owns 6,329,638 shares of the bank’s stock worth $516,435,000 after acquiring an additional 220,760 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of SouthState by 4.4% during the fourth quarter. Select Equity Group L.P. now owns 3,430,784 shares of the bank’s stock valued at $274,840,000 after acquiring an additional 143,594 shares during the period. Capital Research Global Investors lifted its position in shares of SouthState by 61.8% in the 3rd quarter. Capital Research Global Investors now owns 3,151,622 shares of the bank’s stock valued at $235,332,000 after acquiring an additional 1,203,544 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in SouthState by 19.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,710,692 shares of the bank’s stock worth $221,171,000 after purchasing an additional 444,423 shares during the period. Institutional investors own 86.23% of the company’s stock.
Shares of SouthState stock traded up $0.94 during trading hours on Monday, hitting $75.40. The company’s stock had a trading volume of 289,289 shares, compared to its average volume of 382,442. SouthState has a 1-year low of $62.60 and a 1-year high of $93.34. The business has a fifty day moving average of $80.54 and a 200 day moving average of $82.60. The company has a market capitalization of $5.69 billion, a PE ratio of 12.48 and a beta of 0.81. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.07.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 13th will be issued a $0.49 dividend. The ex-dividend date is Thursday, May 12th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.60%. SouthState’s dividend payout ratio (DPR) is presently 32.45%.
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.
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