SouthState (SSB) Expected to Announce Earnings on Thursday

SouthState (NASDAQ:SSB - Get Free Report) is anticipated to release its earnings data after the market closes on Thursday, July 24th. Analysts expect SouthState to post earnings of $1.98 per share and revenue of $645.12 million for the quarter.

SouthState Stock Up 1.8%

Shares of SSB traded up $1.75 on Thursday, reaching $97.68. The stock had a trading volume of 641,466 shares, compared to its average volume of 750,585. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 14.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $90.77 and a 200-day simple moving average of $93.37. SouthState has a 12-month low of $77.74 and a 12-month high of $114.27.

SouthState Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, May 9th. SouthState's payout ratio is presently 34.12%.

Analyst Ratings Changes

A number of research firms have recently commented on SSB. Barclays raised their target price on SouthState from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Truist Financial initiated coverage on SouthState in a research note on Tuesday, May 13th. They set a "buy" rating and a $106.00 price objective for the company. Raymond James Financial set a $110.00 price objective on SouthState in a research note on Monday, April 28th. Stephens reissued an "overweight" rating and issued a $119.00 target price on shares of SouthState in a report on Monday, April 28th. Finally, DA Davidson cut their price objective on SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, SouthState presently has an average rating of "Buy" and an average target price of $116.45.

Hedge Funds Weigh In On SouthState

An institutional investor recently raised its position in SouthState stock. Jane Street Group LLC lifted its holdings in SouthState Co. (NASDAQ:SSB - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,984 shares of the bank's stock after acquiring an additional 3,678 shares during the period. Jane Street Group LLC owned 0.08% of SouthState worth $7,703,000 at the end of the most recent reporting period. 89.76% of the stock is currently owned by institutional investors.

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.