South State Corp (NASDAQ:SSB) declared a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Friday, November 8th will be given a dividend of 0.46 per share by the bank on Friday, November 15th. This represents a $1.84 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from South State’s previous quarterly dividend of $0.43.
NASDAQ:SSB traded up $0.36 during mid-day trading on Tuesday, reaching $82.13. The stock had a trading volume of 7,292 shares, compared to its average volume of 122,950. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 14.94 and a beta of 1.34. South State has a 1-year low of $56.55 and a 1-year high of $82.01. The stock’s 50 day simple moving average is $76.85 and its two-hundred day simple moving average is $74.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.98.
South State (NASDAQ:SSB) last posted its quarterly earnings results on Monday, October 28th. The bank reported $1.49 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.06. The business had revenue of $164.96 million during the quarter, compared to the consensus estimate of $163.79 million. South State had a return on equity of 8.20% and a net margin of 25.53%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Sell-side analysts anticipate that South State will post 5.49 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. SunTrust Banks lifted their price target on South State from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. ValuEngine downgraded South State from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. BidaskClub upgraded South State from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Stephens upgraded South State from an “underweight” rating to an “equal weight” rating in a research note on Monday. Finally, Zacks Investment Research downgraded South State from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. South State has a consensus rating of “Hold” and a consensus target price of $77.33.
About South State
South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management services, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, and ATM processing services.
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