SouthState Co. (NASDAQ:SSB) Given Consensus Rating of “Moderate Buy” by Analysts

SouthState Co. (NASDAQ:SSB) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $112.56.

A number of research firms have commented on SSB. Citigroup initiated coverage on shares of SouthState in a research note on Thursday, October 10th. They set a “neutral” rating and a $102.00 price objective for the company. UBS Group began coverage on shares of SouthState in a research report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $120.00 price target (up from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Finally, Piper Sandler raised 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.

Institutional Trading of SouthState

Several institutional investors have recently modified their holdings of SSB. Waldron Private Wealth LLC acquired a new position in SouthState in the third quarter worth about $35,000. UMB Bank n.a. raised its holdings in shares of SouthState by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after buying an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SouthState during the 2nd quarter worth approximately $97,000. International Assets Investment Management LLC boosted its stake in SouthState by 9,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after buying an additional 1,443 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new stake in SouthState in the second quarter valued at $151,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

SouthState Stock Performance

Shares of NASDAQ SSB opened at $101.01 on Wednesday. SouthState has a 1 year low of $70.68 and a 1 year high of $114.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a fifty day moving average price of $103.68 and a two-hundred day moving average price of $98.00. The firm has a market cap of $7.71 billion, a P/E ratio of 15.59 and a beta of 0.70.

SouthState (NASDAQ:SSB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.26. The company had revenue of $426.41 million for the quarter, compared to analysts’ expectations of $429.47 million. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS. Research analysts forecast that SouthState will post 6.99 EPS for the current fiscal year.

About SouthState

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.