SouthState Co. to Issue Quarterly Dividend of $0.54 (NASDAQ:SSB)

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.54 per share by the bank on Friday, November 15th. This represents a $2.16 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 8th.

SouthState has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 13 years.

SouthState Stock Up 1.5 %

NASDAQ SSB opened at $98.06 on Friday. SouthState has a 1 year low of $63.36 and a 1 year high of $103.82. The stock has a market capitalization of $7.47 billion, a PE ratio of 16.00 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day moving average is $96.27 and its 200 day moving average is $86.18.

SouthState (NASDAQ:SSB) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.26. The firm had revenue of $426.41 million for the quarter, compared to analysts’ expectations of $429.47 million. SouthState had a return on equity of 9.31% and a net margin of 20.84%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. Sell-side analysts forecast that SouthState will post 6.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Truist Financial boosted their price target on shares of SouthState from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Citigroup initiated coverage on SouthState in a research report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 target price for the company. Hovde Group raised their target price on SouthState from $97.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Stephens upped their price target on SouthState from $88.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, DA Davidson raised their price objective on SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.89.

Insiders Place Their Bets

In related news, 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 transaction, the chief financial officer now directly owns 36,964 shares of the company’s stock, valued at approximately $3,696,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Daniel E. Bockhorst sold 2,500 shares of the business’s 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 of the company’s stock, valued at $3,332,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer now owns 36,964 shares in the company, valued at approximately $3,696,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

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.