SouthState (NASDAQ:SSB – Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.03, Briefing.com reports. The company had revenue of $415.49 million during the quarter, compared to the consensus estimate of $414.32 million. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.93 EPS.
SouthState Stock Performance
Shares of NASDAQ SSB traded down $1.07 during trading on Friday, reaching $77.89. 466,802 shares of the company traded hands, compared to its average volume of 417,040. The firm has a 50 day simple moving average of $81.55 and a 200-day simple moving average of $78.81. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $5.94 billion, a PE ratio of 12.13 and a beta of 0.74. SouthState has a 52-week low of $59.51 and a 52-week high of $87.77.
Insider Activity
In other news, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction that occurred 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 in the company, valued at $2,902,068. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Richard Iv Murray sold 4,900 shares of the business’s stock in a transaction 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 completion of the sale, the president now directly owns 58,968 shares of the company’s stock, valued at $4,826,530.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel E. Bockhorst sold 3,000 shares of SouthState stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the sale, the insider now owns 35,828 shares of the company’s stock, valued at $2,902,068. The disclosure for this sale can be found here. Insiders have sold a total of 11,925 shares of company stock valued at $988,686 in the last 90 days. 1.26% of the stock is currently owned by insiders.
Analyst Ratings Changes
Read Our Latest Stock Report on SouthState
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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