SouthState (SSB) to Release Quarterly Earnings on Thursday

SouthState (NASDAQ:SSB) is expected to be posting its quarterly earnings results after the market closes on Thursday, January 23rd. Analysts expect SouthState to post earnings of $1.75 per share and revenue of $436,400.00 billion for the quarter.

SouthState (NASDAQ:SSB) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.26. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The business had revenue of $426.41 million for the quarter, compared to analyst estimates of $429.47 million. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

SouthState Stock Up 2.4 %

SouthState stock opened at $99.63 on Thursday. SouthState has a twelve month low of $70.68 and a twelve month high of $114.26. The stock’s fifty day simple moving average is $104.40 and its 200-day simple moving average is $97.19. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.38 and a beta of 0.70.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Friday, November 8th. SouthState’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SSB shares. Piper Sandler upped their price objective on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price on the stock. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Truist Financial dropped their target price on SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Citigroup assumed coverage on SouthState in a report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, SouthState currently has an average rating of “Moderate Buy” and a consensus target price of $112.56.

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.