SouthState Co. (SSB) to Issue Quarterly Dividend of $0.54 on February 14th

SouthState Co. (NASDAQ:SSB) announced a quarterly dividend on Thursday, January 23rd,RTT News reports. Investors of record on Friday, February 7th will be given a dividend of 0.54 per share by the bank on Friday, February 14th. This represents a $2.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, February 7th.

SouthState has increased its dividend by an average of 2.8% annually over the last three years and has raised its dividend annually for the last 13 consecutive years.

SouthState Trading Up 2.3 %

SouthState stock opened at $105.54 on Wednesday. SouthState has a 12 month low of $70.68 and a 12 month high of $114.26. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 15.19 and a beta of 0.70. The business has a 50 day moving average price of $103.03 and a two-hundred day moving average price of $99.41. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07.

Insider Activity at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the transaction, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SSB shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Stephens reiterated an “overweight” rating and set a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $128.00 in a report on Monday, January 27th. Piper Sandler lifted their target price on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.44.

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.