SouthState Bank Corporation (NYSE:SSB) Plans Quarterly Dividend of $0.66

SouthState Bank Corporation (NYSE:SSB) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Friday, November 6th will be given a dividend of $0.66 per share on Friday, November 13th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, November 6th.

SouthState Bank Trading Up 1.0%

Shares of NYSE SSB traded up $1.03 during trading hours on Thursday, hitting $103.81. The company’s stock had a trading volume of 247,820 shares, compared to its average volume of 816,431. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 10.91 and a beta of 0.78. SouthState Bank has a 12 month low of $84.47 and a 12 month high of $112.20. The business has a 50-day simple moving average of $104.16 and a 200-day simple moving average of $100.77.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.10). The business had revenue of $685.43 million for the quarter, compared to analysts’ expectations of $691.13 million. SouthState Bank had a net margin of 25.09% and a return on equity of 10.67%. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, analysts anticipate that SouthState Bank will post 9.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SSB. Truist Financial cut their price objective on SouthState Bank from $118.00 to $113.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. decreased their target price on SouthState Bank from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SouthState Bank in a research note on Monday, October 12th. TD Cowen cut their price target on shares of SouthState Bank from $120.00 to $116.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Finally, Wall Street Zen raised shares of SouthState Bank from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, SouthState Bank currently has an average rating of “Buy” and an average target price of $118.54.

About SouthState Bank

SouthState Bank is a regional banking institution and the principal banking subsidiary of SouthState Corporation (NYSE: SSB). The bank provides financial services to individuals, families, businesses and institutions, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards and online and mobile banking.

SouthState also offers business banking and treasury-management services, commercial real estate lending, equipment financing, wealth management and investment services.