Brokers Set Expectations for SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB) – Analysts at DA Davidson issued their FY2025 earnings per share (EPS) estimates for shares of SouthState in a research note issued to investors on Tuesday, January 28th. DA Davidson analyst G. Tenner expects that the bank will earn $9.25 per share for the year. The consensus estimate for SouthState’s current full-year earnings is $6.99 per share.

SSB has been the subject of several other research reports. UBS Group started coverage on shares of SouthState in a report on Tuesday, December 17th. They set a “buy” rating and a $132.00 price objective for the company. Citigroup raised SouthState from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $106.00 to $128.00 in a research note on Monday. Truist Financial cut 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. Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of SouthState in a research report on Friday, January 24th. Finally, Piper Sandler upped their target price on shares of SouthState from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.44.

SouthState Price Performance

Shares of NASDAQ:SSB opened at $106.68 on Thursday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 14.33 and a beta of 0.70. The firm has a fifty day moving average price of $103.43 and a 200 day moving average price of $98.90. SouthState has a fifty-two week low of $70.68 and a fifty-two week high of $114.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92.

Institutional Trading of SouthState

A number of large investors have recently modified their holdings of SSB. Geode Capital Management LLC boosted its stake in shares of SouthState by 1.8% during the third quarter. Geode Capital Management LLC now owns 1,820,303 shares of the bank’s stock valued at $176,931,000 after purchasing an additional 31,340 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in SouthState by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 987,849 shares of the bank’s stock valued at $95,999,000 after acquiring an additional 72,181 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of SouthState by 4.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 731,802 shares of the bank’s stock valued at $71,117,000 after acquiring an additional 34,194 shares during the period. Fisher Asset Management LLC raised its position in shares of SouthState by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 711,853 shares of the bank’s stock worth $69,178,000 after acquiring an additional 25,495 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in SouthState by 3.8% during the third quarter. Segall Bryant & Hamill LLC now owns 622,084 shares of the bank’s stock valued at $60,454,000 after purchasing an additional 22,855 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Insider Activity at SouthState

In other SouthState news, CFO William E. V. Matthews sold 6,531 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $108.29, for a total value of $707,241.99. Following the transaction, the chief financial officer now directly owns 34,107 shares in the company, valued at $3,693,447.03. This represents a 16.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is owned by company insiders.

SouthState Dividend Announcement

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