SouthState (SSB) Scheduled to Post Earnings on Thursday

SouthState (NASDAQ:SSB) is scheduled to be releasing its earnings data after the market closes on Thursday, April 25th. Analysts expect SouthState to post earnings of $1.55 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

SouthState (NASDAQ:SSB) last issued its earnings results on Thursday, January 25th. The bank reported $1.67 EPS for the quarter, beating the consensus estimate of $1.54 by $0.13. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The company had revenue of $419.72 million for the quarter, compared to the consensus estimate of $419.08 million. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

SouthState Stock Up 1.1 %

Shares of NASDAQ:SSB opened at $79.18 on Tuesday. SouthState has a 52 week low of $59.51 and a 52 week high of $87.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. The company’s fifty day moving average is $81.68 and its 200-day moving average is $78.72. The company has a market capitalization of $6.04 billion, a PE ratio of 12.26 and a beta of 0.74.

SouthState Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 2.63%. SouthState’s dividend payout ratio is presently 32.20%.

Insider Activity

In other news, insider Daniel E. Bockhorst sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. In related news, insider Daniel E. Bockhorst sold 3,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 35,828 shares in the company, 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, President Richard Iv Murray sold 4,900 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total value of $401,065.00. Following the completion of the transaction, the president now owns 58,968 shares of the company’s stock, valued at $4,826,530.80. The disclosure for this sale can be found here. Insiders sold a total of 11,925 shares of company stock valued at $988,686 in the last ninety days. 1.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

About SouthState

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.