SouthState Co. (NASDAQ:SSB – Get Free Report) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $102.75.
A number of analysts recently commented on SSB shares. Piper Sandler raised their price target on SouthState from $95.00 to $98.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Truist Financial raised their price target on SouthState from $81.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on SouthState from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Hovde Group raised their price target on SouthState from $97.00 to $112.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Raymond James raised SouthState from a “market perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research note on Tuesday, May 21st.
Check Out Our Latest Stock Report on SouthState
Hedge Funds Weigh In On SouthState
SouthState Stock Performance
NASDAQ:SSB opened at $96.62 on Friday. The firm has a market cap of $7.36 billion, a PE ratio of 15.76 and a beta of 0.68. SouthState has a fifty-two week low of $63.36 and a fifty-two week high of $101.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.91. The business has a 50 day moving average price of $85.29 and a 200-day moving average price of $81.79.
SouthState (NASDAQ:SSB – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.25. The firm had revenue of $425.48 million during the quarter, compared to analyst estimates of $418.08 million. SouthState had a return on equity of 9.31% and a net margin of 20.84%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Equities research analysts predict that SouthState will post 6.64 earnings per share for the current year.
SouthState Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.54 dividend. This is an increase from SouthState’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.24%. SouthState’s dividend payout ratio is 35.24%.
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.
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