SouthState Bank Corporation (NYSE:SSB - Get Free Report) Director David Brooks sold 6,181 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $107.92, for a total transaction of $667,053.52. Following the completion of the sale, the director directly owned 1,762 shares in the company, valued at approximately $190,155.04. The trade was a 77.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
SouthState Bank Stock Up 1.3%
Shares of SSB opened at $109.29 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $99.72 and a two-hundred day moving average price of $98.22. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 11.49 and a beta of 0.71. SouthState Bank Corporation has a 12 month low of $84.47 and a 12 month high of $109.80.
SouthState Bank (NYSE:SSB - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. SouthState Bank had a return on equity of 10.67% and a net margin of 25.09%.The company had revenue of $672.67 million for the quarter, compared to analyst estimates of $676.83 million. During the same period in the prior year, the company posted $2.30 EPS. Equities analysts predict that SouthState Bank Corporation will post 9.51 EPS for the current fiscal year.
SouthState Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.66 per share. This is an increase from SouthState Bank's previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 7th. SouthState Bank's dividend payout ratio is currently 27.76%.
Institutional Trading of SouthState Bank
Several large investors have recently made changes to their positions in SSB. Root Financial Partners LLC raised its holdings in shares of SouthState Bank by 100.0% in the first quarter. Root Financial Partners LLC now owns 420 shares of the company's stock valued at $39,000 after buying an additional 210 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in SouthState Bank during the 2nd quarter worth about $50,000. Measured Wealth Private Client Group LLC acquired a new stake in SouthState Bank in the 3rd quarter valued at about $51,000. GHP Investment Advisors Inc. acquired a new stake in SouthState Bank in the 1st quarter valued at about $52,000. Finally, Danske Bank A S bought a new position in shares of SouthState Bank in the third quarter worth about $59,000. Institutional investors own 89.76% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SSB shares. Wall Street Zen downgraded shares of SouthState Bank from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Truist Financial lifted their price target on shares of SouthState Bank from $108.00 to $118.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Fundamental Research set a $120.00 price target on shares of SouthState Bank in a research report on Wednesday, July 1st. TD Cowen upped their price objective on shares of SouthState Bank from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Finally, Stephens reaffirmed an "overweight" rating and set a $116.00 price objective on shares of SouthState Bank in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $119.64.
Read Our Latest Analysis on SSB
SouthState Bank Company Profile
(
Get Free Report)
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.
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