FY2025 EPS Estimates for SouthState Decreased by DA Davidson

SouthState Co. (NASDAQ:SSB) – Stock analysts at DA Davidson decreased their FY2025 earnings per share estimates for shares of SouthState in a research note issued on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts 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.

SouthState (NASDAQ:SSB) last posted its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.26. The company had revenue of $426.41 million during 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%. SouthState’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS.

SSB has been the topic of a number of other research reports. Piper Sandler increased their target price on SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Citigroup assumed coverage on SouthState in a report on Thursday, October 10th. They set a “neutral” rating and a $102.00 target price for the company. Truist Financial decreased their price target on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Stephens upgraded shares of SouthState from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Finally, Hovde Group lowered shares of SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.78.

SouthState Stock Up 1.3 %

SouthState stock opened at $100.21 on Monday. SouthState has a twelve month low of $70.68 and a twelve month high of $114.26. The stock has a market cap of $7.65 billion, a P/E ratio of 15.46 and a beta of 0.69. The company’s 50-day moving average price is $104.82 and its two-hundred day moving average price is $94.20. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.54 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.16 dividend on an annualized basis and a yield of 2.16%. SouthState’s dividend payout ratio (DPR) is 33.33%.

Hedge Funds Weigh In On SouthState

Several hedge funds and other institutional investors have recently modified their holdings of the business. Nicholas Hoffman & Company LLC. boosted its position in SouthState by 0.6% in the second quarter. Nicholas Hoffman & Company LLC. now owns 19,259 shares of the bank’s stock valued at $1,472,000 after buying an additional 123 shares in the last quarter. Raymond James & Associates grew its position in SouthState by 0.6% during the 2nd quarter. Raymond James & Associates now owns 21,343 shares of the bank’s stock worth $1,631,000 after acquiring an additional 126 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in SouthState by 7.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,837 shares of the bank’s stock worth $274,000 after purchasing an additional 186 shares in the last quarter. UMB Bank n.a. raised its position in SouthState by 53.9% in the third 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 last quarter. Finally, KBC Group NV boosted its stake in shares of SouthState by 16.3% during the third quarter. KBC Group NV now owns 2,296 shares of the bank’s stock valued at $223,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

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.