DA Davidson Issues Negative Forecast for SouthState Earnings

SouthState Co. (NASDAQ:SSB - Free Report) - Stock analysts at DA Davidson reduced their FY2025 earnings estimates for SouthState in a research report issued on Tuesday, June 17th. DA Davidson analyst G. Tenner now forecasts that the bank will post earnings of $7.93 per share for the year, down from their prior estimate of $7.97. DA Davidson has a "Buy" rating and a $115.00 price target on the stock. The consensus estimate for SouthState's current full-year earnings is $8.12 per share. DA Davidson also issued estimates for SouthState's FY2026 earnings at $9.21 EPS.

A number of other research firms also recently commented on SSB. Raymond James Financial set a $110.00 price objective on SouthState in a report on Monday, April 28th. Jefferies Financial Group initiated coverage on shares of SouthState in a research report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 target price for the company. Barclays dropped their price target on shares of SouthState from $120.00 to $115.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Stephens reaffirmed an "overweight" rating and issued a $119.00 price objective on shares of SouthState in a research note on Monday, April 28th. Finally, Truist Financial initiated coverage on shares of SouthState in a report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 price objective for the company. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $116.27.

SouthState Stock Up 0.9%

SSB stock traded up $0.79 during mid-day trading on Thursday, hitting $85.92. The stock had a trading volume of 773,925 shares, compared to its average volume of 665,865. SouthState has a 1-year low of $72.10 and a 1-year high of $114.27. The company has a fifty day moving average of $87.78 and a 200 day moving average of $95.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.34 and a beta of 0.77.

Institutional Investors Weigh In On SouthState

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SouthState by 31.2% during the 1st quarter. Vanguard Group Inc. now owns 11,079,578 shares of the bank's stock worth $1,028,406,000 after purchasing an additional 2,637,786 shares during the last quarter. Dimensional Fund Advisors LP increased its position in SouthState by 34.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,556,410 shares of the bank's stock worth $422,915,000 after buying an additional 1,164,348 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of SouthState by 2,221.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 727,341 shares of the bank's stock worth $72,356,000 after buying an additional 696,014 shares during the last quarter. Norges Bank acquired a new position in shares of SouthState during the fourth quarter worth approximately $67,260,000. Finally, Nuveen LLC bought a new stake in shares of SouthState in the first quarter valued at approximately $62,230,000. 89.76% of the stock is currently owned by institutional investors.

SouthState Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Friday, May 9th. SouthState's dividend payout ratio is 34.12%.

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.