Shares of SouthState Co. (NASDAQ:SSB – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $102.75.
Several research firms have commented on SSB. 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 report on Tuesday, May 21st. Truist Financial upped their price target on SouthState from $81.00 to $109.00 and gave the company a “hold” rating in a report on Monday, July 29th. Hovde Group upped their price target on SouthState from $97.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Piper Sandler upped their price target on SouthState from $95.00 to $98.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Finally, DA Davidson upped their price target on SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a report on Friday, July 26th.
Check Out Our Latest Stock Analysis on SSB
Hedge Funds Weigh In On SouthState
SouthState Price Performance
NASDAQ SSB opened at $88.61 on Wednesday. SouthState has a twelve month low of $63.36 and a twelve month 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 stock has a market capitalization of $6.75 billion, a PE ratio of 14.46 and a beta of 0.68. The stock has a 50-day simple moving average of $81.13 and a 200 day simple moving average of $81.10.
SouthState (NASDAQ:SSB – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The bank reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.25. SouthState had a return on equity of 9.31% and a net margin of 20.84%. The business had revenue of $425.48 million during the quarter, compared to analysts’ expectations of $418.08 million. During the same quarter in the previous year, the firm earned $1.63 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. Research analysts anticipate that SouthState will post 6.64 EPS for the current year.
SouthState Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from SouthState’s previous quarterly dividend of $0.23. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.44%. SouthState’s dividend payout ratio is presently 35.24%.
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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