SouthState Bank Corporation (NYSE:SSB) to Issue $0.60 Quarterly Dividend

SouthState Bank Corporation (NYSE:SSB) announced a quarterly dividend on Wednesday, January 21st. Investors of record on Friday, February 6th will be given a dividend of 0.60 per share on Friday, February 13th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, February 6th.

SouthState Bank has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 13 years.

SouthState Bank Stock Performance

SouthState Bank stock traded up $2.92 during midday trading on Friday, hitting $103.48. 794,452 shares of the company’s stock were exchanged, compared to its average volume of 645,300. The firm has a market capitalization of $10.40 billion, a P/E ratio of 14.32 and a beta of 0.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day moving average price is $94.05. SouthState Bank has a 52-week low of $77.74 and a 52-week high of $109.64.

SouthState Bank (NYSE:SSB) last released its quarterly earnings results on Thursday, January 22nd. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.17. SouthState Bank had a return on equity of 10.70% and a net margin of 20.25%.The firm had revenue of $686.87 million for the quarter, compared to analysts’ expectations of $667.88 million. During the same quarter last year, the firm posted $1.93 EPS.

Institutional Trading of SouthState Bank

Institutional investors have recently made changes to their positions in the stock. Daytona Street Capital LLC bought a new position in shares of SouthState Bank in the fourth quarter worth approximately $1,054,000. Aaron Wealth Advisors LLC purchased a new stake in SouthState Bank during the 4th quarter valued at $463,000. Stratos Wealth Partners LTD. bought a new stake in SouthState Bank in the 4th quarter worth $245,000. Fifth Third Wealth Advisors LLC increased its position in shares of SouthState Bank by 3.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 37,707 shares of the company’s stock valued at $3,549,000 after acquiring an additional 1,393 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of SouthState Bank by 3.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,155,073 shares of the company’s stock valued at $108,843,000 after acquiring an additional 35,184 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

About SouthState Bank

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.