SouthState Co. (NASDAQ:SSB) Plans $0.54 Quarterly Dividend

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders 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 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th.

SouthState has increased its dividend 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 Trading Up 4.8 %

Shares of SSB opened at $103.29 on Friday. SouthState has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 14.33 and a beta of 0.70. The firm has a 50 day moving average price of $103.32 and a 200-day moving average price of $98.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stephens restated an “overweight” rating and set a $130.00 target price on shares of SouthState in a report on Friday. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Citigroup initiated coverage on shares of SouthState in a research note on Thursday, October 10th. They issued a “neutral” rating and a $102.00 target price on the stock. UBS Group began coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target for the company. Finally, Piper Sandler boosted their price objective on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.56.

About SouthState

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.