DA Davidson Estimates SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB) – Analysts at DA Davidson issued their FY2025 earnings estimates for shares of SouthState in a research note issued to investors on Tuesday, January 28th. DA Davidson analyst G. Tenner forecasts that the bank will earn $9.25 per share for the year. The consensus estimate for SouthState’s current full-year earnings is $8.12 per share.

Several other brokerages have also recently weighed in on SSB. UBS Group started coverage on SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 price objective for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $120.00 price target (up from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Citigroup upgraded SouthState from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $106.00 to $128.00 in a research note on Monday, January 27th. Piper Sandler raised their target price 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. Finally, Stephens reaffirmed an “overweight” rating and set a $130.00 price target on shares of SouthState in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.44.

SouthState Stock Down 0.5 %

SouthState stock opened at $105.45 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState has a 1-year low of $70.68 and a 1-year high of $114.26. The company has a fifty day simple moving average of $103.34 and a 200 day simple moving average of $99.08. The company has a market cap of $8.05 billion, a P/E ratio of 15.15 and a beta of 0.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in SouthState in the 2nd quarter valued at about $527,000. AQR Capital Management LLC raised its position in shares of SouthState by 214.5% in the second quarter. AQR Capital Management LLC now owns 36,711 shares of the bank’s stock valued at $2,769,000 after buying an additional 25,037 shares in the last quarter. Algert Global LLC bought a new stake in shares of SouthState in the second quarter valued at approximately $587,000. Creative Planning grew its position in SouthState by 18.3% during the second quarter. Creative Planning now owns 14,365 shares of the bank’s stock worth $1,098,000 after buying an additional 2,225 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in SouthState by 14.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 19,869 shares of the bank’s stock worth $1,518,000 after acquiring an additional 2,533 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SouthState

In other news, CFO William E. V. Matthews sold 6,531 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total transaction of $707,241.99. Following the transaction, the chief financial officer now owns 34,107 shares in the company, valued at approximately $3,693,447.03. This trade represents a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.26% of the stock is currently owned by corporate insiders.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 7th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 7th. SouthState’s payout ratio is presently 31.03%.

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.