SouthState (SSB) Scheduled to Post Earnings on Thursday

SouthState (NASDAQ:SSB) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect SouthState to post earnings of $1.55 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

SouthState (NASDAQ:SSB) last released its earnings results on Thursday, January 25th. The bank reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.13. SouthState had a return on equity of 9.85% and a net margin of 22.15%. The business had revenue of $419.72 million for the quarter, compared to analyst estimates 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 opened at $75.99 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $81.92 and its two-hundred day simple moving average is $78.38. SouthState has a twelve month low of $59.51 and a twelve month high of $87.77. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 11.76 and a beta of 0.74.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 2.74%. SouthState’s payout ratio is 32.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SSB shares. Raymond James downgraded SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th. DA Davidson reissued a “buy” rating and set a $102.00 price target (up previously from $96.00) on shares of SouthState in a research report on Monday, January 29th. Truist Financial dropped their price objective on SouthState from $90.00 to $89.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, UBS Group raised their price objective on SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, SouthState currently has an average rating of “Hold” and an average target price of $87.80.

Insider Transactions at SouthState

In other news, COO Renee R. Brooks sold 4,025 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 31,747 shares in the company, valued at $2,718,178.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Renee R. Brooks sold 4,025 shares of the firm’s 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 completion of the transaction, the chief operating officer now directly owns 31,747 shares in the company, valued at $2,718,178.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel E. Bockhorst sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 35,828 shares of the company’s stock, valued at $2,902,068. The disclosure for this sale can be found here. Insiders sold a total of 11,925 shares of company stock worth $988,686 over the last three months. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in shares of SouthState by 37.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 591 shares of the bank’s stock valued at $45,000 after buying an additional 161 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of SouthState in the first quarter valued at approximately $54,000. Lazard Asset Management LLC purchased a new stake in shares of SouthState in the first quarter valued at approximately $76,000. International Assets Investment Management LLC increased its position in shares of SouthState by 8,346.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,267 shares of the bank’s stock valued at $107,000 after buying an additional 1,252 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of SouthState in the fourth quarter valued at approximately $113,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

About SouthState

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.