SouthState (NASDAQ:SSB – Get Free Report) posted its quarterly earnings data on Wednesday. The bank reported $1.79 EPS for the quarter, beating the consensus estimate of $1.54 by $0.25, Zacks reports. The firm had revenue of $425.48 million during the quarter, compared to the consensus estimate of $418.08 million. SouthState had a return on equity of 9.24% and a net margin of 20.91%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS.
SouthState Price Performance
NASDAQ:SSB traded up $5.58 during trading hours on Thursday, reaching $97.29. 1,306,984 shares of the company traded hands, compared to its average volume of 478,526. The firm’s 50-day moving average is $78.14 and its 200-day moving average is $80.22. The stock has a market cap of $7.41 billion, a P/E ratio of 15.88 and a beta of 0.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.90 and a quick ratio of 0.89. SouthState has a 1-year low of $63.36 and a 1-year high of $97.83.
SouthState Increases Dividend
The business also recently announced a dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, August 9th. This is a boost from SouthState’s previous dividend of $0.23. SouthState’s dividend payout ratio is 33.93%.
Wall Street Analyst Weigh In
View Our Latest Analysis on SouthState
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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