SouthState (NASDAQ:SSB – Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26, Briefing.com reports. SouthState had a net margin of 20.84% and a return on equity of 9.31%. The business had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. During the same period in the previous year, the firm earned $1.62 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year.
SouthState Stock Down 2.3 %
SouthState stock traded down $2.28 during mid-day trading on Friday, reaching $95.78. The stock had a trading volume of 471,420 shares, compared to its average volume of 479,402. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of 15.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.91 and a quick ratio of 0.91. SouthState has a one year low of $64.81 and a one year high of $103.82. The company has a 50-day moving average price of $96.35 and a two-hundred day moving average price of $86.27.
SouthState Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 8th. SouthState’s dividend payout ratio is presently 35.24%.
Analysts Set New Price Targets
View Our Latest Stock Report on SSB
Insiders Place Their Bets
In other SouthState news, CFO William E. V. Matthews sold 5,000 shares of the stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Daniel E. Bockhorst sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 33,328 shares in the company, valued at $3,332,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $500,000.00. Following the completion of the sale, the chief financial officer now directly owns 36,964 shares of the company’s stock, 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. Corporate insiders own 1.26% of the company’s stock.
SouthState Company Profile
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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