SouthState (NASDAQ:SSB - Get Free Report) will be releasing its earnings data after the market closes on Wednesday, October 23rd. Analysts expect SouthState to post earnings of $1.67 per share for the quarter. Investors interested in registering for the company's conference call can do so using this link.
SouthState (NASDAQ:SSB - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.25. SouthState had a net margin of 20.84% and a return on equity of 9.31%. The business had revenue of $425.48 million for the quarter, compared to analyst estimates of $418.08 million. During the same quarter last year, the firm earned $1.63 EPS. SouthState's quarterly revenue was down 3.1% compared to the same quarter last year. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.
SSB opened at $101.52 on Wednesday. SouthState has a 12 month low of $63.36 and a 12 month high of $103.82. The company has a fifty day simple moving average of $94.45 and a 200 day simple moving average of $85.24. The stock has a market cap of $7.73 billion, a P/E ratio of 16.56 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.10.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.54 per share. This is an increase from SouthState's previous quarterly dividend of $0.23. The ex-dividend date was Friday, August 9th. This represents a $2.16 annualized dividend and a dividend yield of 2.13%. SouthState's dividend payout ratio is currently 35.24%.
Several brokerages have issued reports on SSB. Truist Financial lifted their price target on shares of SouthState from $109.00 to $111.00 and gave the company a "hold" rating in a research note on Friday, September 20th. Stephens lifted their price target on SouthState from $88.00 to $101.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Citigroup started coverage on shares of SouthState in a report on Thursday, October 10th. They issued a "neutral" rating and a $102.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on SouthState from $95.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, July 29th. Finally, DA Davidson increased their price target on shares of SouthState from $102.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.89.
Get Our Latest Stock Analysis on SouthState
In other SouthState news, CFO William E. V. Matthews sold 5,000 shares of SouthState stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $100.00, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO William E. V. Matthews sold 5,000 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the transaction, the chief financial officer now directly owns 36,964 shares of the company's stock, valued at approximately $3,696,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel E. Bockhorst sold 2,500 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the insider now owns 33,328 shares of the company's stock, valued at $3,332,800. 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.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider SouthState, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SouthState wasn't on the list.
While SouthState currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.