FY2025 EPS Estimates for SouthState Lowered by DA Davidson

SouthState Co. (NASDAQ:SSB - Free Report) - Equities research analysts at DA Davidson cut their FY2025 EPS estimates for SouthState in a note issued to investors on Thursday, December 19th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $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.

SouthState (NASDAQ:SSB - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The business had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. During the same quarter last year, the firm posted $1.62 EPS. The business's revenue for the quarter was down .4% compared to the same quarter last year.

A number of other research firms also recently commented on SSB. Hovde Group downgraded shares of SouthState from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 13th. Piper Sandler boosted their price objective on SouthState from $110.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Citigroup assumed coverage on SouthState in a research report on Thursday, October 10th. They issued a "neutral" rating and a $102.00 target price on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $120.00 target price (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Finally, UBS Group assumed coverage on SouthState in a report on Tuesday, December 17th. They set a "buy" rating and a $132.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $109.78.

SouthState Stock Up 0.4 %

SSB stock traded up $0.42 during mid-day trading on Monday, hitting $100.63. 432,332 shares of the company were exchanged, compared to its average volume of 498,070. The company has a market capitalization of $7.68 billion, a PE ratio of 15.53 and a beta of 0.69. SouthState has a twelve month low of $70.68 and a twelve month high of $114.26. The firm has a fifty day simple moving average of $104.82 and a 200 day simple moving average of $94.39. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10.

SouthState Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, November 8th. SouthState's dividend payout ratio is 33.33%.

Institutional Trading of SouthState

Hedge funds have recently bought and sold shares of the stock. 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, Innealta Capital LLC bought a new stake in SouthState in the second quarter valued at $133,000. 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.