SouthState Co. (NASDAQ:SSB) Plans $0.54 Quarterly Dividend

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Shareholders of record on Friday, February 7th will be given a dividend of 0.54 per share by the bank on Friday, February 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, February 7th.

SouthState has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 13 years.

SouthState Price Performance

SSB stock opened at $105.54 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The company’s 50-day moving average is $103.03 and its 200-day moving average is $99.41. The stock has a market capitalization of $8.05 billion, a PE ratio of 15.19 and a beta of 0.70. SouthState has a 1 year low of $70.68 and a 1 year high of $114.26.

Insider Transactions at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SSB. Piper Sandler upped their target price on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Hovde Group downgraded shares of SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. UBS Group initiated coverage on shares of SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Keefe, Bruyette & Woods restated an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Finally, Truist Financial decreased their price objective on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

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.