SouthState (NASDAQ:SSB – Get Free Report) released its earnings results on Wednesday. The bank reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.25, Zacks reports. The firm had revenue of $425.48 million for the quarter, compared to analyst estimates of $418.08 million. SouthState had a return on equity of 9.24% and a net margin of 20.91%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS.
SouthState Stock Performance
Shares of SSB traded up $5.58 on Thursday, reaching $97.29. 1,306,984 shares of the stock traded hands, compared to its average volume of 478,526. The firm has a market cap of $7.41 billion, a price-to-earnings 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 12 month low of $63.36 and a 12 month high of $97.83. The stock’s 50-day moving average price is $78.14 and its 200-day moving average price is $80.22.
SouthState Increases Dividend
The company also recently disclosed a dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from SouthState’s previous dividend of $0.23. SouthState’s payout ratio is currently 33.93%.
Analyst Ratings Changes
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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