SouthState Bank Corporation (NYSE:SSB) Shareholders Set to Receive $0.66 Quarterly Dividend

SouthState Bank Corporation (NYSE:SSB) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.66 per share on Friday, November 13th. This represents a $2.64 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, November 6th.

SouthState Bank Stock Up 0.7%

Shares of SSB stock traded up $0.70 during mid-day trading on Thursday, reaching $103.48. 206,592 shares of the company’s stock traded hands, compared to its average volume of 816,198. SouthState Bank has a 12 month low of $84.47 and a 12 month high of $112.20. The company has a market cap of $10.03 billion, a P/E ratio of 10.89 and a beta of 0.78. 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’s 50-day moving average price is $104.16 and its 200-day moving average price is $100.77.

SouthState Bank (NYSE:SSB) last released its earnings results on Wednesday, October 21st. The company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.10). SouthState Bank had a return on equity of 10.67% and a net margin of 25.09%. The business had revenue of $685.43 million during the quarter, compared to analysts’ expectations of $691.13 million. During the same period in the prior year, the company earned $2.58 earnings per share. On average, equities analysts expect that SouthState Bank will post 9.47 earnings per share for the current fiscal year.

Insider Activity

In other SouthState Bank news, CFO William E. V. Matthews sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $108.93, for a total transaction of $435,720.00. Following the completion of the sale, the chief financial officer directly owned 40,568 shares in the company, valued at approximately $4,419,072.24. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David Brooks sold 24,650 shares of SouthState Bank stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $110.00, for a total transaction of $2,711,500.00. Following the completion of the transaction, the director directly owned 7,900 shares of the company’s stock, valued at $869,000. This trade represents a 75.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,831 shares of company stock worth $3,814,274 over the last three months. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SouthState Bank

A number of hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in SouthState Bank in the 3rd quarter valued at approximately $71,000. E. Ohman J or Asset Management AB increased its holdings in shares of SouthState Bank by 3.2% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 32,627 shares of the company’s stock worth $3,248,000 after purchasing an additional 1,009 shares in the last quarter. Vest Financial LLC increased its holdings in shares of SouthState Bank by 4.9% in the 3rd quarter. Vest Financial LLC now owns 79,541 shares of the company’s stock worth $7,919,000 after purchasing an additional 3,724 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of SouthState Bank by 14.6% in the third quarter. Crossmark Global Holdings Inc. now owns 4,018 shares of the company’s stock worth $400,000 after purchasing an additional 513 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of SouthState Bank by 58.2% in the third quarter. IFP Advisors Inc now owns 2,227 shares of the company’s stock worth $222,000 after purchasing an additional 819 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

SouthState Bank Company Profile

SouthState Bank is a regional banking institution and the principal banking subsidiary of SouthState Corporation (NYSE: SSB). The bank provides financial services to individuals, families, businesses and institutions, including checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, credit cards and online and mobile banking.

SouthState also offers business banking and treasury-management services, commercial real estate lending, equipment financing, wealth management and investment services.