DA Davidson Has Negative View of SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB - Free Report) - Analysts at DA Davidson decreased their FY2025 earnings per share (EPS) estimates for SouthState in a report issued on Tuesday, June 17th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $7.93 per share for the year, down from their previous 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 brokerages have also recently issued reports on SSB. Keefe, Bruyette & Woods decreased their price objective on shares of SouthState from $130.00 to $120.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Truist Financial initiated coverage on SouthState in a report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 target price for the company. Barclays dropped their target price on SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Raymond James Financial set a $110.00 target price on SouthState in a report on Monday, April 28th. Finally, Stephens reissued an "overweight" rating and issued a $119.00 target price on shares of SouthState in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $116.27.

SouthState Stock Down 0.1%

Shares of SSB traded down $0.05 during mid-day trading on Thursday, hitting $85.99. 1,610,955 shares of the company's stock were exchanged, compared to its average volume of 668,393. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 12.36 and a beta of 0.77. The firm has a fifty day moving average of $87.96 and a two-hundred day moving average of $94.60. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState has a twelve month low of $72.74 and a twelve month high of $114.27.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in SouthState in the 1st quarter valued at $33,000. Summit Securities Group LLC acquired a new stake in shares of SouthState during the fourth quarter worth about $38,000. Aquatic Capital Management LLC acquired a new stake in shares of SouthState during the fourth quarter worth about $45,000. Flaharty Asset Management LLC bought a new position in shares of SouthState during the 1st quarter valued at about $45,000. Finally, Quadrant Capital Group LLC grew its position in shares of SouthState by 24.2% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank's stock valued at $51,000 after purchasing an additional 99 shares during the period. 89.76% of the stock is currently owned by institutional investors.

SouthState Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.51%. SouthState's dividend payout ratio (DPR) is presently 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.