SouthState Bank Corporation (SSB) To Go Ex-Dividend on November 6th

SouthState Bank Corporation (NYSE:SSB) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.66 per share on Friday, November 13th. This represents a $2.64 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, November 6th.

SouthState Bank Stock Up 1.6%

Shares of NYSE:SSB traded up $1.61 during trading on Thursday, hitting $104.39. 278,057 shares of the company were exchanged, compared to its average volume of 816,609. The stock has a market capitalization of $10.12 billion, a P/E ratio of 10.96 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.93. SouthState Bank has a 12-month low of $84.47 and a 12-month high of $112.20. The firm’s 50 day moving average price is $104.16 and its 200-day moving average price is $100.77.

SouthState Bank (NYSE:SSB) last issued its earnings results on Wednesday, October 21st. The company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.10). The company had revenue of $685.43 million during the quarter, compared to analyst estimates of $691.13 million. SouthState Bank had a net margin of 25.09% and a return on equity of 10.67%. During the same quarter in the previous year, the company posted $2.58 EPS. On average, research analysts predict that SouthState Bank will post 9.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SSB shares. Stephens reissued an “overweight” rating and issued a $116.00 price target on shares of SouthState Bank in a research report on Monday, July 27th. Wall Street Zen raised SouthState Bank from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. TD Cowen cut their target price on SouthState Bank from $120.00 to $116.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Citigroup boosted their target price on SouthState Bank from $115.00 to $126.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Barclays upped their target price on SouthState Bank from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $118.54.

SouthState Bank Company Profile

SouthState Bank is a regional banking institution and the principal banking subsidiary of SouthState Corporation (NYSE: SSB). The bank provides financial services to individuals, families, businesses and institutions, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards and online and mobile banking.

SouthState also offers business banking and treasury-management services, commercial real estate lending, equipment financing, wealth management and investment services.