SouthState (SSB) Scheduled to Post Earnings on Thursday

SouthState (NASDAQ:SSB - Get Free Report) will issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.55 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.

SouthState (NASDAQ:SSB - Get Free Report) last released its earnings results on Thursday, January 25th. The bank reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.13. SouthState had a net margin of 22.15% and a return on equity of 9.85%. The business had revenue of $419.72 million during the quarter, compared to analysts' expectations of $419.08 million. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

SouthState Stock Performance

SSB stock traded up $0.52 during midday trading on Thursday, reaching $76.61. 414,951 shares of the company were exchanged, compared to its average volume of 408,890. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.88. The business has a 50-day moving average price of $81.86 and a two-hundred day moving average price of $78.36. SouthState has a one year low of $59.51 and a one year high of $87.77. The firm has a market capitalization of $5.84 billion, a price-to-earnings ratio of 11.86 and a beta of 0.74.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 2.72%. SouthState's dividend payout ratio (DPR) is 32.20%.

Analyst Ratings Changes

A number of research firms recently commented on SSB. DA Davidson reaffirmed a "buy" rating and issued a $102.00 price target (up previously from $96.00) on shares of SouthState in a research note on Monday, January 29th. UBS Group upped their target price on SouthState from $88.00 to $90.00 and gave the stock a "neutral" rating in a research report 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. Finally, Truist Financial lowered their price target on SouthState from $90.00 to $89.00 and set a "hold" rating on the stock in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $87.80.

Insider Transactions at SouthState

In related news, insider Daniel E. Bockhorst sold 3,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the sale, the insider now owns 35,828 shares in the company, valued at $2,902,068. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Renee R. Brooks sold 4,025 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $85.62, for a total value of $344,620.50. Following the transaction, the chief operating officer now directly owns 31,747 shares of the company's stock, valued at $2,718,178.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel E. Bockhorst sold 3,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total value of $243,000.00. Following the completion of the transaction, the insider now directly owns 35,828 shares in the company, valued at $2,902,068. The disclosure for this sale can be found here. Insiders sold 11,925 shares of company stock worth $988,686 over the last quarter. 1.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SouthState

A number of hedge funds have recently bought and sold shares of SSB. Hsbc Holdings PLC grew its stake in shares of SouthState by 4.1% in the fourth quarter. Hsbc Holdings PLC now owns 3,591 shares of the bank's stock valued at $307,000 after buying an additional 142 shares in the last quarter. Creative Planning increased its position in SouthState by 2.8% during the 2nd quarter. Creative Planning now owns 5,466 shares of the bank's stock worth $422,000 after purchasing an additional 151 shares during the period. Rockefeller Capital Management L.P. increased its position in SouthState by 37.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 591 shares of the bank's stock worth $45,000 after purchasing an additional 161 shares during the period. Baird Financial Group Inc. grew its holdings in shares of SouthState by 5.7% in the 4th quarter. Baird Financial Group Inc. now owns 3,214 shares of the bank's stock worth $271,000 after acquiring an additional 174 shares during the period. Finally, First National Bank of Omaha grew its holdings in shares of SouthState by 0.5% in the 2nd quarter. First National Bank of Omaha now owns 36,107 shares of the bank's stock worth $2,376,000 after acquiring an additional 179 shares during the period. Hedge funds and other institutional investors own 89.76% of the company's stock.

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.