SouthState Co. (NASDAQ:SSB – Get Free Report) announced a quarterly dividend on Thursday, April 25th, NASDAQ reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.52 per share by the bank on Friday, May 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, May 9th.
SouthState has raised its dividend payment by an average of 2.8% annually over the last three years and has raised its dividend annually for the last 12 consecutive years.
SouthState Stock Down 1.4 %
NASDAQ:SSB opened at $77.89 on Friday. The firm has a market cap of $5.94 billion, a P/E ratio of 12.71 and a beta of 0.74. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.89. SouthState has a fifty-two week low of $59.51 and a fifty-two week high of $87.77. The firm has a 50-day simple moving average of $81.55 and a two-hundred day simple moving average of $78.81.
Insider Buying and Selling at SouthState
In other news, COO Renee R. Brooks sold 4,025 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $85.62, for a total value of $344,620.50. Following the transaction, the chief operating officer now owns 31,747 shares of the company’s stock, valued at $2,718,178.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel E. Bockhorst sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the sale, the insider now owns 35,828 shares of the company’s stock, valued at $2,902,068. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Renee R. Brooks sold 4,025 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $85.62, for a total transaction of $344,620.50. Following the sale, the chief operating officer now directly owns 31,747 shares in the company, valued at approximately $2,718,178.14. The disclosure for this sale can be found here. Insiders have sold 11,925 shares of company stock valued at $988,686 over the last 90 days. 1.26% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of SouthState from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Truist Financial cut their target price on shares of SouthState from $90.00 to $89.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Raymond James lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Friday, January 5th. Finally, DA Davidson restated a “buy” rating and set a $102.00 target price (up from $96.00) on shares of SouthState 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.80.
Check Out Our Latest Analysis on SouthState
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.
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