SouthState (NASDAQ:SSB – Get Free Report) announced its earnings results on Thursday. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03, Briefing.com reports. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The business had revenue of $415.49 million during the quarter, compared to analysts’ expectations of $414.32 million. During the same quarter last year, the company posted $1.93 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis.
SouthState Trading Down 1.3 %
Shares of NASDAQ SSB traded down $1.01 during mid-day trading on Friday, hitting $77.95. The company’s stock had a trading volume of 466,802 shares, compared to its average volume of 417,040. The company’s fifty day simple moving average is $81.55 and its 200-day simple moving average is $78.81. SouthState has a one year low of $59.51 and a one year high of $87.77. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 12.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.88.
Insider Buying and Selling
In related news, President Richard Iv Murray sold 4,900 shares of SouthState stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total transaction of $401,065.00. Following the transaction, the president now owns 58,968 shares of the company’s stock, valued at approximately $4,826,530.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SouthState news, President Richard Iv Murray sold 4,900 shares of the firm’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 transaction of $401,065.00. Following the sale, the president now directly owns 58,968 shares in the company, valued at approximately $4,826,530.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Renee R. Brooks sold 4,025 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $85.62, for a total transaction of $344,620.50. Following the sale, the chief operating officer now owns 31,747 shares in the company, valued at $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 in the last 90 days. 1.26% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on SSB
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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