SouthState Co. (SSB) To Go Ex-Dividend on May 9th

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.52 per share by the bank on Friday, May 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 9th.

SouthState has raised its dividend payment by an average of 2.8% annually over the last three years and has raised its dividend annually for the last 12 consecutive years.

SouthState Stock Down 1.4 %

NASDAQ:SSB opened at $77.89 on Friday. The firm has a market cap of $5.94 billion, a P/E ratio of 12.71 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. SouthState has a fifty-two week low of $59.51 and a fifty-two week high of $87.77. The firm has a 50-day simple moving average of $81.55 and a two-hundred day simple moving average of $78.81.

SouthState (NASDAQ:SSB) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03. SouthState had a net margin of 20.91% and a return on equity of 9.32%. The firm had revenue of $415.49 million during the quarter, compared to analyst estimates of $414.32 million. During the same period in the previous year, the business posted $1.93 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts predict that SouthState will post 6.51 earnings per share for the current fiscal year.

Insider Buying and Selling at SouthState

In other news, COO Renee R. Brooks sold 4,025 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $85.62, for a total value of $344,620.50. Following the transaction, the chief operating officer now owns 31,747 shares of the company’s stock, valued at $2,718,178.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel E. Bockhorst sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the sale, the insider now owns 35,828 shares of the company’s stock, valued at $2,902,068. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Renee R. Brooks sold 4,025 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $85.62, for a total transaction of $344,620.50. Following the sale, the chief operating officer now directly owns 31,747 shares in the company, valued at approximately $2,718,178.14. The disclosure for this sale can be found here. Insiders have sold 11,925 shares of company stock valued at $988,686 over the last 90 days. 1.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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