FY2025 EPS Estimates for SouthState Decreased by DA Davidson

SouthState Co. (NASDAQ:SSB) – Equities research analysts at DA Davidson cut their FY2025 EPS estimates for SouthState in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts 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) last released its earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.26. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The company had revenue of $426.41 million for the quarter, compared to analyst estimates of $429.47 million. During the same period in the prior year, the firm posted $1.62 EPS. SouthState’s quarterly revenue was down .4% on a year-over-year basis.

A number of other analysts have also weighed in on the stock. 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 report on Friday, October 25th. Hovde Group downgraded SouthState from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 13th. Stephens raised SouthState from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Citigroup assumed coverage on SouthState in a research note on Thursday, October 10th. They set a “neutral” rating and a $102.00 price target on the stock. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of SouthState in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.78.

SouthState Stock Performance

NASDAQ:SSB opened at $101.14 on Monday. SouthState has a twelve month low of $70.68 and a twelve month high of $114.26. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $104.81 and its 200 day simple moving average is $94.58. The firm has a market capitalization of $7.72 billion, a PE ratio of 15.61 and a beta of 0.69.

Institutional Investors Weigh In On SouthState

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of SouthState by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,328,984 shares of the bank’s stock worth $254,394,000 after purchasing an additional 371,987 shares during the period. Victory Capital Management Inc. increased its stake in SouthState by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,802,373 shares of the bank’s stock worth $214,157,000 after acquiring an additional 45,176 shares during the last quarter. Geode Capital Management LLC increased its stake in SouthState by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,820,303 shares of the bank’s stock worth $176,931,000 after acquiring an additional 31,340 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of SouthState by 2.4% in the 2nd quarter. American Century Companies Inc. now owns 1,685,828 shares of the bank’s stock valued at $128,831,000 after acquiring an additional 39,492 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in shares of SouthState by 2.8% during the 2nd quarter. Earnest Partners LLC now owns 1,494,332 shares of the bank’s stock valued at $114,197,000 after acquiring an additional 40,879 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

SouthState Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.16 annualized dividend and a dividend yield of 2.14%. SouthState’s payout ratio is 33.33%.

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.