SouthState (SSB) Projected to Post Earnings on Thursday

SouthState (NASDAQ:SSB) is expected to be releasing its earnings data after the market closes on Thursday, January 23rd. Analysts expect SouthState to post earnings of $1.75 per share and revenue of $436,400.00 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

SouthState (NASDAQ:SSB) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.26. The company had revenue of $426.41 million for 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%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

SouthState Price Performance

Shares of NASDAQ:SSB opened at $101.01 on Wednesday. The stock has a market cap of $7.71 billion, a PE ratio of 15.59 and a beta of 0.70. The company’s fifty day moving average is $103.68 and its 200 day moving average is $98.00. SouthState has a 52 week low of $70.68 and a 52 week 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.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 target price (up previously from $115.00) on shares of SouthState in a research report on Thursday, November 7th. Piper Sandler raised their price target on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial cut their price target on shares of SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of SouthState in a report on Thursday, January 2nd. Finally, Citigroup started coverage on shares of SouthState in a report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $112.56.

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.