SouthState (NASDAQ:SSB – Get Free Report) posted its earnings results on Wednesday. The bank reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.26, Briefing.com reports. The business had revenue of $426.41 million for the quarter, compared to analysts’ expectations of $429.47 million. SouthState had a net margin of 20.84% and a return on equity of 9.31%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share.
SouthState Stock Up 1.5 %
Shares of NASDAQ:SSB opened at $98.06 on Friday. The company’s fifty day moving average is $96.27 and its two-hundred day moving average is $86.18. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.91. SouthState has a 1-year low of $63.36 and a 1-year high of $103.82. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 16.00 and a beta of 0.67.
SouthState Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 2.20%. SouthState’s payout ratio is 35.24%.
Analysts Set New Price Targets
Check Out Our Latest Analysis on SouthState
Insider Activity
In other SouthState news, CFO William E. V. Matthews sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $100.00, for a total value of $500,000.00. Following the transaction, the chief financial officer now owns 36,964 shares of the company’s stock, valued at $3,696,400. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Daniel E. Bockhorst sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now owns 33,328 shares in the company, valued at approximately $3,332,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William E. V. Matthews sold 5,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares in the company, valued at approximately $3,696,400. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.
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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