SouthState Co. Plans Quarterly Dividend of $0.54 (NASDAQ:SSB)

SouthState Co. (NASDAQ:SSB) declared a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 7th will be paid a dividend of 0.54 per share by the bank on Friday, February 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.19%.

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

SouthState Trading Down 0.7 %

NASDAQ SSB traded down $0.69 during mid-day trading on Thursday, reaching $98.78. 1,011,167 shares of the stock were exchanged, compared to its average volume of 1,195,969. The stock has a market cap of $7.54 billion, a P/E ratio of 15.24 and a beta of 0.70. The stock has a 50 day simple moving average of $103.53 and a 200-day simple moving average of $98.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91. SouthState has a one year low of $70.68 and a one year high of $114.26.

SouthState (NASDAQ:SSB) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.90 EPS for the quarter, topping the consensus estimate of $1.64 by $0.26. The company had revenue of $426.41 million during the quarter, compared to the consensus estimate of $429.47 million. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 earnings per share. On average, analysts anticipate that SouthState will post 6.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SSB. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of SouthState in a research report on Thursday, January 2nd. UBS Group initiated coverage on SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Truist Financial lowered their price objective on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Piper Sandler boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.56.

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.