FY2025 EPS Estimates for SouthState Lowered by Analyst

SouthState Co. (NASDAQ:SSB) – Equities research analysts at DA Davidson decreased their FY2025 EPS estimates for SouthState in a research report issued on Thursday, December 19th. DA Davidson analyst G. Tenner now expects that the bank will earn $7.59 per share for the year, down from their prior estimate of $7.77. The consensus estimate for SouthState’s current full-year earnings is $6.94 per share.

Several other analysts have also recently weighed in on the company. Hovde Group cut SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. 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 target for the company. Piper Sandler raised their price objective on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Truist Financial lowered their target price on shares of SouthState from $111.00 to $103.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, 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 note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.78.

SouthState Trading Up 1.3 %

SSB stock opened at $100.21 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. SouthState has a twelve month low of $70.68 and a twelve month high of $114.26. The company has a market cap of $7.65 billion, a P/E ratio of 15.46 and a beta of 0.69. The business has a fifty day moving average of $104.82 and a 200-day moving average of $94.20.

SouthState (NASDAQ:SSB) last posted 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 firm had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS.

Hedge Funds Weigh In On SouthState

Institutional investors have recently modified their holdings of the business. Waldron Private Wealth LLC bought a new stake in SouthState in the 3rd quarter valued at $35,000. UMB Bank n.a. raised its stake in shares of SouthState by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after purchasing an additional 192 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SouthState in the second quarter valued at about $97,000. Innealta Capital LLC acquired a new position in shares of SouthState during the second quarter worth about $133,000. Finally, International Assets Investment Management LLC grew its holdings in shares of SouthState by 9,620.0% during the third quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock worth $142,000 after buying an additional 1,443 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

SouthState Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, November 8th. This represents a $2.16 annualized dividend and a yield of 2.16%. SouthState’s dividend payout ratio is presently 33.33%.

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.