SouthState Posts $223.8M Q3 Net Income, Down From $230M in Q2
SSB sits 22% above its 52-week low of $84.475.
Summary
SouthState reported Q3 net income of $223.8 million, down from $230 million in Q2 — a modest sequential decline for a bank with roughly a $10 billion market cap. The release lands after the close, as flagged in the October 2 8-K that set today's date for results and tomorrow's conference call. Q2 came with a 10% dividend hike and $249 million of buybacks, so the bar was set on capital returns; the headline gives no EPS, margin, or credit figures, leaving the quality of the quarter unclear. Q3 net interest income was USD 591.518 million, and the bank declared a quarterly cash dividend of $0.66. Adjusted profit missed estimates on higher costs and soft capital markets. The stock's reaction will hinge on the call, where net interest margin and provisions — both pressured last quarter — are the swing items.
At the time of this announcement, SSB was trading at $102.78 on NYSE in the Finance sector, with a market capitalization of approximately $10B. The 52-week trading range was $84.48 to $112.20. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.