SouthState Co. (SSB) To Go Ex-Dividend on November 8th

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.54 per share by the bank on Friday, November 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, November 8th.

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

SouthState Stock Up 2.1 %

Shares of SouthState stock opened at $97.68 on Wednesday. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 15.07 and a beta of 0.66. The stock’s 50-day moving average is $96.96 and its 200 day moving average is $87.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.90. SouthState has a one year low of $67.72 and a one year high of $103.82.

SouthState (NASDAQ:SSB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The company had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. During the same quarter in the previous year, the company earned $1.62 EPS. SouthState’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that SouthState will post 6.85 EPS for the current year.

Insider Buying and Selling

In other news, insider Daniel E. Bockhorst sold 2,500 shares of the firm’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 value of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares in the company, valued at approximately $3,332,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Daniel E. Bockhorst sold 2,500 shares of the firm’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 value of $250,000.00. Following the sale, the insider now directly owns 33,328 shares of the company’s stock, valued at $3,332,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of the firm’s stock in a transaction 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 sale, 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. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SSB. DA Davidson raised their price objective on SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Stephens lifted their price objective on shares of SouthState from $101.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Piper Sandler raised their price target on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Hovde Group boosted their price objective on SouthState from $97.00 to $112.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Citigroup assumed coverage on SouthState in a report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $104.00.

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.