SouthState Co. (SSB) to Issue Quarterly Dividend of $0.54 on February 14th

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 7th will be paid a dividend of 0.54 per share by the bank on Friday, February 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th.

SouthState has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend annually for the last 13 consecutive years.

SouthState Stock Performance

NASDAQ SSB opened at $103.29 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $7.88 billion, a PE ratio of 14.33 and a beta of 0.70. SouthState has a 52-week low of $70.68 and a 52-week high of $114.26. The company has a 50-day simple moving average of $103.32 and a 200 day simple moving average of $98.21.

SouthState (NASDAQ:SSB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The company had revenue of $426.41 million during the quarter, compared to analyst estimates of $429.47 million. During the same quarter last year, the business posted $1.62 EPS. SouthState’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that SouthState will post 6.99 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SSB. Piper Sandler raised their price objective on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Citigroup began coverage on SouthState in a report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 price target for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Stephens restated an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research note on Friday. Finally, UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.56.

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.