SouthState Co. (NASDAQ:SSB) Announces Quarterly Dividend of $0.52

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Investors 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 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 12 consecutive years.

SouthState Trading Down 1.4 %

SSB traded down $1.07 on Friday, reaching $77.89. 466,802 shares of the company’s stock were exchanged, compared to its average volume of 417,040. 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 twelve month low of $59.51 and a twelve month high of $87.77. The company’s 50 day moving average is $81.55 and its 200-day moving average is $78.81. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 12.13 and a beta of 0.74.

SouthState (NASDAQ:SSB) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.03. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The company had revenue of $415.49 million during the quarter, compared to the consensus estimate of $414.32 million. During the same quarter last year, the company earned $1.93 earnings per share. SouthState’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts predict that SouthState will post 6.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SSB shares. Truist Financial decreased their price target 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. DA Davidson restated a “buy” rating and set a $102.00 price objective (up from $96.00) on shares of SouthState in a research note on Monday, January 29th. Raymond James cut SouthState from an “outperform” rating to a “market perform” rating in a research note on Friday, January 5th. Finally, UBS Group raised their price objective on SouthState from $88.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SouthState presently has an average rating of “Hold” and an average price target of $87.80.

Insider Buying and Selling

In related news, COO Renee R. Brooks sold 4,025 shares of SouthState stock in a transaction dated Monday, January 29th. The stock was 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 approximately $2,718,178.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Renee R. Brooks sold 4,025 shares of SouthState stock in a transaction dated Monday, January 29th. The stock was 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 approximately $2,718,178.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Richard Iv Murray sold 4,900 shares of SouthState stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total value of $401,065.00. Following the transaction, the president now directly owns 58,968 shares in the company, valued at approximately $4,826,530.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,925 shares of company stock valued at $988,686. 1.26% of the stock is owned by corporate insiders.

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.