DA Davidson Issues Negative Forecast for SouthState Earnings

SouthState Co. (NASDAQ:SSB) – Equities research analysts at DA Davidson cut their FY2025 earnings per share (EPS) estimates for SouthState in a report released on Thursday, December 19th. DA Davidson analyst G. Tenner now forecasts that the bank will earn $7.59 per share for the year, down from their prior forecast of $7.77. The consensus estimate for SouthState’s current full-year earnings is $6.94 per share.

SSB has been the subject of a number of other research reports. Stephens raised SouthState from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 9th. Piper Sandler boosted their price objective 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. UBS Group assumed coverage on SouthState in a research note on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price on the stock. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 13th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $120.00 price objective (up previously from $115.00) on shares of SouthState in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.78.

SouthState Trading Up 0.4 %

SSB stock opened at $100.63 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. SouthState has a one year low of $70.68 and a one year high of $114.26. The company’s 50 day moving average price is $104.82 and its two-hundred day moving average price is $94.39. The company has a market capitalization of $7.68 billion, a PE ratio of 15.53 and a beta of 0.69.

SouthState (NASDAQ:SSB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.90 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 analyst estimates of $429.47 million. SouthState had a return on equity of 9.41% and a net margin of 21.24%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS.

Hedge Funds Weigh In On SouthState

Institutional investors and hedge funds have recently bought and sold shares of the stock. Waldron Private Wealth LLC bought a new position in SouthState in the 3rd quarter worth $35,000. UMB Bank n.a. lifted its position in SouthState by 53.9% during the third quarter. UMB Bank n.a. now owns 548 shares of the bank’s stock valued at $53,000 after purchasing an additional 192 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of SouthState in the 2nd quarter worth about $97,000. Innealta Capital LLC purchased a new stake in shares of SouthState during the 2nd quarter valued at about $133,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of SouthState by 9,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,458 shares of the bank’s stock valued at $142,000 after acquiring an additional 1,443 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

SouthState Announces Dividend

The firm 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. This represents a $2.16 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, November 8th. SouthState’s dividend payout ratio is presently 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.