DA Davidson Estimates SouthState’s Q1 Earnings (NASDAQ:SSB)

SouthState Co. (NASDAQ:SSB) – Equities researchers at DA Davidson issued their Q1 2025 EPS estimates for shares of SouthState in a research report issued on Tuesday, January 28th. DA Davidson analyst G. Tenner anticipates that the bank will earn $1.11 per share for the quarter. The consensus estimate for SouthState’s current full-year earnings is $6.99 per share.

Other analysts also recently issued reports about the company. Stephens reissued an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research report on Friday, January 24th. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Piper Sandler lifted their target price on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, UBS Group initiated coverage on shares of SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.44.

SouthState Trading Down 1.5 %

NASDAQ:SSB opened at $106.68 on Wednesday. SouthState has a 12 month low of $70.68 and a 12 month high of $114.26. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $103.43 and its 200 day moving average is $98.90. The stock has a market capitalization of $8.14 billion, a PE ratio of 16.46 and a beta of 0.70.

SouthState Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.02%. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of SouthState 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 owns 34,107 shares of the company’s stock, valued at $3,693,447.03. The trade was a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On SouthState

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of SouthState in the 4th quarter valued at about $21,498,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SouthState by 64.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 265,578 shares of the bank’s stock valued at $25,809,000 after purchasing an additional 103,756 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new stake in shares of SouthState during the third quarter valued at approximately $9,086,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SouthState by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock worth $95,999,000 after purchasing an additional 72,181 shares during the last quarter. Finally, Prospector Partners LLC increased its stake in shares of SouthState by 52.8% in the third quarter. Prospector Partners LLC now owns 185,250 shares of the bank’s stock worth $18,003,000 after buying an additional 64,013 shares during the period. 89.76% of the stock is owned by hedge funds and other 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.