SouthState (NASDAQ:SSB – Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.26, Briefing.com reports. The business had revenue of $426.41 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS.
SouthState Trading Down 2.3 %
NASDAQ SSB opened at $95.78 on Friday. The company has a 50-day moving average of $96.35 and a 200-day moving average of $86.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.91 and a quick ratio of 0.91. SouthState has a 12 month low of $64.81 and a 12 month high of $103.82. The company has a market cap of $7.30 billion, a P/E ratio of 15.62 and a beta of 0.67.
SouthState Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 2.26%. SouthState’s dividend payout ratio (DPR) is presently 35.24%.
Analyst Upgrades and Downgrades
View Our Latest Research Report on SSB
Insider Buying and Selling
In other SouthState news, 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 of the company’s stock, valued at $3,696,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SouthState news, CFO William E. V. Matthews sold 5,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares in the company, valued at $3,696,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel E. Bockhorst sold 2,500 shares of SouthState stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares in the company, valued at $3,332,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.
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.
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