SouthState (SSB) Scheduled to Post Earnings on Thursday

SouthState (NASDAQ:SSB) is set to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect SouthState to post earnings of $1.55 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

SouthState (NASDAQ:SSB) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.13. The business had revenue of $419.72 million during the quarter, compared to analyst estimates of $419.08 million. SouthState had a return on equity of 9.85% and a net margin of 22.15%. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

SouthState Trading Up 1.1 %

NASDAQ SSB opened at $79.18 on Tuesday. The firm has a market capitalization of $6.04 billion, a P/E ratio of 12.26 and a beta of 0.74. The business has a fifty day simple moving average of $81.68 and a 200 day simple moving average of $78.72. SouthState has a 12 month low of $59.51 and a 12 month high of $87.77. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06.

SouthState Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, February 8th. SouthState’s payout ratio is currently 32.20%.

Analyst Ratings Changes

SSB has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on SouthState from $90.00 to $89.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Raymond James downgraded SouthState from an “outperform” rating to a “market perform” rating in a research note on Friday, January 5th. DA Davidson restated a “buy” rating and issued a $102.00 price objective (up previously from $96.00) on shares of SouthState in a research note on Monday, January 29th. Finally, UBS Group upped their price objective on SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.80.

Insider Transactions at SouthState

In other news, insider Daniel E. Bockhorst sold 3,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now owns 35,828 shares in the company, valued at approximately $2,902,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Daniel E. Bockhorst sold 3,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now owns 35,828 shares in the company, valued at approximately $2,902,068. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Renee R. Brooks sold 4,025 shares of the stock in a transaction on 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 11,925 shares of company stock worth $988,686. 1.26% of the stock is owned by company insiders.

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.