SouthState Bank Corporation (SSB) To Go Ex-Dividend on August 7th

SouthState Bank Corporation (NYSE:SSB) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Friday, August 7th will be given a dividend of 0.66 per share on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, August 7th. This is a 10.0% increase from SouthState Bank’s previous quarterly dividend of $0.60.

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

SouthState Bank Price Performance

Shares of SSB opened at $101.17 on Friday. SouthState Bank has a fifty-two week low of $84.47 and a fifty-two week high of $108.46. The firm’s 50 day moving average price is $97.70 and its 200 day moving average price is $97.70. The company has a market cap of $9.88 billion, a P/E ratio of 10.91 and a beta of 0.70. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.04.

SouthState Bank (NYSE:SSB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $672.67 million during the quarter, compared to analysts’ expectations of $676.83 million. SouthState Bank had a net margin of 24.75% and a return on equity of 10.81%. During the same quarter last year, the company posted $2.30 EPS. On average, research analysts forecast that SouthState Bank will post 9.51 earnings per share for the current fiscal year.

Insider Activity at SouthState Bank

In related news, Director David R. Brooks sold 14,300 shares of SouthState Bank stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $98.39, for a total transaction of $1,406,977.00. Following the sale, the director directly owned 12,700 shares in the company, valued at $1,249,553. This trade represents a 52.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by company insiders.

Institutional Trading of SouthState Bank

Several institutional investors and hedge funds have recently made changes to their positions in SSB. E. Ohman J or Asset Management AB purchased a new position in SouthState Bank during the 2nd quarter worth approximately $3,159,000. FNY Investment Advisers LLC purchased a new stake in SouthState Bank in the second quarter valued at approximately $50,000. GAMMA Investing LLC lifted its stake in SouthState Bank by 19.2% in the second quarter. GAMMA Investing LLC now owns 2,516 shares of the company’s stock valued at $251,000 after buying an additional 405 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of SouthState Bank by 56.3% in the second quarter. Versant Capital Management Inc now owns 1,535 shares of the company’s stock valued at $153,000 after acquiring an additional 553 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of SouthState Bank by 421.6% in the first quarter. Parallel Advisors LLC now owns 772 shares of the company’s stock valued at $71,000 after acquiring an additional 624 shares during the period. 89.76% of the stock is owned by hedge funds and other institutional investors.

SouthState Bank Company Profile

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.