SouthState Bank Corporation Announces Quarterly Dividend of $0.60 (NYSE:SSB)

Key Points

• SouthState Bank declared a quarterly dividend of $0.60 per share, with an ex‑dividend/record date of May 8 and payment on May 15, implying a dividend yield of 2.4%.
• The company reported Q1 EPS of $2.28, beating estimates of $2.21, with revenue of $661.7M (slightly below expectations) and a net margin of 21.26% and ROE of 10.86%.
• SSB shares opened at $98.11, the firm has a market cap of $9.62B and a PE of 12.48, and it has increased its dividend annually for 13 consecutive years despite minimal growth in dividend payments over the past three years.

SouthState Bank Corporation (NYSE:SSB - Get Free Report) announced a quarterly dividend on Thursday, April 23rd. Stockholders of record on Friday, May 8th will be given a dividend of 0.60 per share on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, May 8th.

SouthState Bank has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 13 consecutive years.

SouthState Bank Stock Up 0.6%

SSB stock opened at $98.11 on Friday. SouthState Bank has a one year low of $84.47 and a one year high of $108.46. The stock has a market capitalization of $9.62 billion, a PE ratio of 12.48 and a beta of 0.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.92 and a current ratio of 0.93. The company has a fifty day moving average of $96.32 and a 200-day moving average of $95.46.

SouthState Bank (NYSE:SSB - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.21 by $0.07. SouthState Bank had a net margin of 21.26% and a return on equity of 10.86%. The firm had revenue of $661.70 million during the quarter, compared to analysts' expectations of $669.29 million. During the same quarter last year, the business earned $0.87 earnings per share. As a group, analysts expect that SouthState Bank will post 9.54 EPS for the current year.

About SouthState Bank

SouthState Bank NYSE: SSB is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.