SouthState Bank Corporation (SSB) to Issue Quarterly Dividend of $0.60 on November 14th

SouthState Bank Corporation (NYSE:SSB) announced a quarterly dividend on Wednesday, October 22nd. Investors of record on Friday, November 7th will be paid a dividend of 0.60 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 7th.

SouthState Bank has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 13 consecutive years.

SouthState Bank Stock Down 1.1%

Shares of NYSE:SSB opened at $87.89 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $8.89 billion, a P/E ratio of 12.09 and a beta of 0.68. SouthState Bank has a 52 week low of $77.74 and a 52 week high of $114.26. The firm has a 50-day moving average price of $97.68.

SouthState Bank (NYSE:SSB) last issued its earnings results on Wednesday, October 22nd. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.38. The company had revenue of $698.78 million during the quarter, compared to analysts’ expectations of $660.41 million. SouthState Bank had a net margin of 20.25% and a return on equity of 10.70%. During the same period last year, the company posted $1.90 earnings per share.

Insider Buying and Selling at SouthState Bank

In other SouthState Bank news, insider Daniel E. Bockhorst sold 5,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $99.60, for a total transaction of $498,000.00. Following the transaction, the insider owned 31,785 shares of the company’s stock, valued at $3,165,786. This represents a 13.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SSB. Vanguard Group Inc. lifted its stake in shares of SouthState Bank by 31.2% during the 1st quarter. Vanguard Group Inc. now owns 11,079,578 shares of the company’s stock worth $1,028,406,000 after purchasing an additional 2,637,786 shares during the period. Laurel Wealth Advisors LLC lifted its stake in shares of SouthState Bank by 9,074.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock worth $132,125,000 after purchasing an additional 1,420,019 shares during the period. Norges Bank purchased a new position in shares of SouthState Bank during the 2nd quarter worth $109,029,000. Dimensional Fund Advisors LP lifted its stake in shares of SouthState Bank by 34.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,556,410 shares of the company’s stock worth $422,915,000 after purchasing an additional 1,164,348 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in shares of SouthState Bank during the 2nd quarter worth $81,769,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About SouthState Bank

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 accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.