SouthState Co. (NASDAQ:SSB – Get Free Report) has been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $105.11.
SSB has been the topic of a number of recent research reports. Stephens boosted their price objective on shares of SouthState from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. DA Davidson lifted their price target on shares of SouthState from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Piper Sandler increased their price objective 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. Keefe, Bruyette & Woods reaffirmed 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. Finally, Truist Financial dropped their target price on SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Monday, October 28th.
Check Out Our Latest Report on SSB
Insiders Place Their Bets
Institutional Investors Weigh In On SouthState
A number of large investors have recently added to or reduced their stakes in SSB. Waldron Private Wealth LLC acquired a new stake in SouthState during the third quarter worth about $35,000. GAMMA Investing LLC lifted its holdings in shares of SouthState by 120.7% during the 2nd quarter. GAMMA Investing LLC now owns 609 shares of the bank’s stock worth $47,000 after acquiring an additional 333 shares during the period. UMB Bank n.a. boosted its position in shares of SouthState by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock worth $53,000 after acquiring an additional 192 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in SouthState in the second quarter valued at approximately $97,000. Finally, Innealta Capital LLC bought a new position in SouthState in the second quarter valued at approximately $133,000. Institutional investors and hedge funds own 89.76% of the company’s stock.
SouthState Stock Down 3.4 %
Shares of SSB stock opened at $107.68 on Friday. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 16.62 and a beta of 0.66. SouthState has a 12-month low of $67.72 and a 12-month high of $111.99. The firm has a fifty day moving average of $97.48 and a 200-day moving average of $87.66. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.10.
SouthState (NASDAQ:SSB – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.26. The firm had revenue of $426.41 million for the quarter, compared to the consensus estimate of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. As a group, equities research analysts predict that SouthState will post 6.92 earnings per share for the current fiscal year.
SouthState Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th 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 2.01%. The ex-dividend date of this dividend is Friday, November 8th. SouthState’s dividend payout ratio is presently 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.
Read More
- Five stocks we like better than SouthState
- Why Invest in 5G? How to Invest in 5G Stocks
- Gilead’s Stock Surge: What’s Fueling the Momentum?
- What is a buyback in stocks? A comprehensive guide for investors
- Breakout Alert: Qualcomm Just Hit The Rally Button
- NYSE Stocks Give Investors a Variety of Quality Options
- Mercado Libre Shares Go on Sale: Is Now the Time to Buy?
Receive News & Ratings for SouthState Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SouthState and related companies with MarketBeat.com's FREE daily email newsletter.