SouthState (SSB) Expected to Announce Earnings on Thursday

SouthState (NASDAQ:SSB - Get Free Report) will likely be releasing 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 0.1%

SouthState stock traded up $0.12 during trading on Friday, reaching $97.71. The stock had a trading volume of 538,885 shares, compared to its average volume of 749,389. The stock has a market cap of $9.92 billion, a PE ratio of 14.04 and a beta of 0.77. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState has a 52-week low of $77.74 and a 52-week high of $114.27. The business has a 50 day moving average price of $91.11 and a 200 day moving average price of $93.30.

SouthState Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SSB. Keefe, Bruyette & Woods cut their price objective on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Stephens reiterated an "overweight" rating and set a $119.00 price objective on shares of SouthState in a report on Monday, April 28th. DA Davidson dropped their target price on shares of SouthState from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Barclays increased their target price on shares of SouthState from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial set a $110.00 target price on shares of SouthState in a research report on Monday, April 28th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, SouthState has an average rating of "Buy" and a consensus price target 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 position in SouthState Co. (NASDAQ:SSB - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,984 shares of the bank's stock after acquiring an additional 3,678 shares during the quarter. Jane Street Group LLC owned approximately 0.08% of SouthState worth $7,703,000 at the end of the most recent reporting period. 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.