SouthState Co. (NASDAQ:SSB – Get Free Report) declared a quarterly dividend on Thursday, April 25th, NASDAQ reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.52 per share by the bank on Friday, May 17th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Thursday, May 9th.
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 12 consecutive years.
SouthState Trading Down 1.4 %
SSB traded down $1.07 during midday trading on Friday, reaching $77.89. 466,802 shares of the company were exchanged, compared to its average volume of 417,040. The stock has a market capitalization of $5.94 billion, a P/E ratio of 12.13 and a beta of 0.74. SouthState has a one year low of $59.51 and a one year high of $87.77. The stock’s 50-day simple moving average is $81.55 and its 200 day simple moving average is $78.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89.
Insider Buying and Selling
In other news, President Richard Iv Murray sold 4,900 shares of SouthState stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total value of $401,065.00. Following the sale, the president now directly owns 58,968 shares in the company, valued at $4,826,530.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Renee R. Brooks sold 4,025 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $85.62, for a total value of $344,620.50. Following the completion of the sale, the chief operating officer now directly owns 31,747 shares in the company, valued at $2,718,178.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Richard Iv Murray sold 4,900 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $81.85, for a total value of $401,065.00. Following the transaction, the president now owns 58,968 shares in the company, valued at approximately $4,826,530.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,925 shares of company stock worth $988,686. 1.26% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and set a $102.00 price objective (up previously from $96.00) on shares of SouthState in a research note on Monday, January 29th. Raymond James lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th. Truist Financial decreased their price objective on SouthState from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, UBS Group raised their target price on shares of SouthState from $88.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $87.80.
Get Our Latest Stock Analysis on SSB
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.
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