DA Davidson Comments on SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB) – DA Davidson issued their FY2025 earnings per share estimates for SouthState in a report released on Tuesday, January 28th. DA Davidson analyst G. Tenner forecasts that the bank will post earnings of $9.25 per share for the year. The consensus estimate for SouthState’s current full-year earnings is $6.99 per share.

SSB has been the subject of a number of other research reports. Stephens restated an “overweight” rating and issued a $130.00 price objective on shares of SouthState in a research note on Friday, January 24th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $120.00 price target (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective on the stock. Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Finally, Citigroup raised SouthState from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.00 to $128.00 in a research note on Monday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.44.

SouthState Stock Down 0.6 %

NASDAQ SSB opened at $105.88 on Thursday. SouthState has a twelve month low of $70.68 and a twelve month 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 market cap of $8.08 billion, a PE ratio of 16.34 and a beta of 0.70. The firm has a 50-day simple moving average of $103.41 and a 200 day simple moving average of $98.95.

SouthState Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. SouthState’s dividend payout ratio is currently 33.33%.

Insider Transactions at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares of the company’s stock, valued at approximately $3,693,447.03. The trade was a 16.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.26% of the company’s stock.

Institutional Trading of SouthState

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Waldron Private Wealth LLC bought a new position in SouthState during the third quarter worth about $35,000. UMB Bank n.a. raised its position in shares of SouthState by 53.9% during the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after purchasing an additional 192 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SouthState during the 2nd quarter valued at about $97,000. Blue Trust Inc. grew its position in shares of SouthState by 16.8% in the 4th quarter. Blue Trust Inc. now owns 1,161 shares of the bank’s stock valued at $113,000 after purchasing an additional 167 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in SouthState during the 4th quarter worth approximately $137,000. 89.76% of the stock is owned by institutional investors.

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.