SouthState (SSB) Set to Announce Quarterly Earnings on Thursday

SouthState (NASDAQ:SSB) is scheduled to be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.55 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

SouthState (NASDAQ:SSB) last posted its earnings results on Thursday, January 25th. The bank reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.13. The firm had revenue of $419.72 million for the quarter, compared to the consensus estimate of $419.08 million. SouthState had a return on equity of 9.85% and a net margin of 22.15%. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

SouthState Trading Up 0.7 %

NASDAQ:SSB opened at $79.84 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.89 and a quick ratio of 0.88. SouthState has a 1 year low of $59.51 and a 1 year high of $87.77. The company has a market cap of $6.09 billion, a P/E ratio of 12.35 and a beta of 0.74. The stock’s fifty day moving average price is $81.68 and its two-hundred day moving average price is $78.72.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SSB shares. Truist Financial reduced their target price on SouthState from $90.00 to $89.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. DA Davidson reiterated a “buy” rating and set a $102.00 target price (up from $96.00) on shares of SouthState in a report on Monday, January 29th. Raymond James lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a report on Friday, January 5th. Finally, UBS Group lifted their target price on shares of SouthState from $88.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $87.80.

Insiders Place Their Bets

In other SouthState news, insider Daniel E. Bockhorst sold 3,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.00, for a total transaction of $243,000.00. Following the completion of the transaction, the insider now owns 35,828 shares of the company’s stock, valued at approximately $2,902,068. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Richard Iv Murray sold 4,900 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $81.85, for a total value of $401,065.00. Following the sale, the president now directly owns 58,968 shares of the company’s stock, valued at approximately $4,826,530.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel E. Bockhorst sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the transaction, the insider now directly owns 35,828 shares in the company, valued at $2,902,068. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,925 shares of company stock worth $988,686. Corporate insiders own 1.70% of the company’s stock.

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.