South State Co. (NASDAQ: SSB) announced a quarterly dividend on Wednesday April 28, Zacks reports. Shareholders of record on Friday May 14 will receive a dividend of 0.47 per share from the bank on Friday May 21. This represents an annualized dividend of $ 1.88 and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, May 13.
South State has increased its dividend payout by 42.4% over the past three years and has increased its dividend each year for the past 1 consecutive year.
NASDAQ Shares: SSB opened at $ 84.54 on Friday. The company has a market cap of $ 6.01 billion, a PE ratio of 54.90 and a beta of 1.08. The company has a fifty-day simple moving average of $ 82.54 and a 200-day simple moving average of $ 75.11. The company has a current ratio of 0.99, a quick ratio of 0.97, and a debt to equity ratio of 0.23. South State has a 12-month low of $ 40.42 and a 12-month high of $ 93.26.
South State (NASDAQ: SSB) last reported its financial results on Wednesday, April 28. The bank reported EPS of $ 2.17 for the quarter, beating the consensus estimate of $ 1.42 by $ 0.75. South State had a return on equity of 6.67% and a net margin of 8.18%. The company posted revenue of $ 358.28 million for the quarter, compared to analysts’ expectations of $ 360.90 million. In the same quarter of the previous year, the company achieved earnings per share of $ 0.82. The company’s revenue for the quarter increased 108.1% year over year. As a group, equity research analysts predict South State will post 4.73 EPS for the current fiscal year.
In other Southern State news, President Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a trade dated Friday, March 12. The stock was sold for an average price of $ 90.34, for a total trade of $ 361,360.00. In addition, Executive Vice President John C. Pollok sold 5,120 shares of the company in a transaction dated Friday, February 19. The shares were sold for an average price of $ 80.30, for a total transaction of $ 411,136.00. Following the closing of the sale, the Executive Vice President now owns 72,218 shares of the company, valued at approximately $ 5,799,105.40. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 52,102 shares valued at $ 4,531,377. 1.43% of the stock is owned by insiders.
Several analysts recently commented on the action. Raymond James downgraded South State shares from an “outperformance” rating to a “market performance” rating in a Friday January 29 report. Truist raised its price target on South State shares from $ 85.00 to $ 97.00 in a report on Monday, March 8. To finish, Zacks investment research in a research report on Tuesday, Jan. 5, South State shares went from a “buy” rating to a “maintain” rating. Four equity research analysts rated the stock with a sustaining rating and three issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $ 74.60.
Southern State Company Profile
South State Corporation operates as a bank holding company for the South State Bank which provides a range of banking services and products. The company accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposit and other term deposits. It also offers commercial real estate loans, residential real estate loans, commercial and industrial loans, as well as consumer loans, including auto, nautical and personal installment loans.
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