DA Davidson Has Lowered Expectations for SouthState (NASDAQ:SSB) Stock Price

SouthState (NASDAQ:SSB - Get Free Report) had its price target dropped by equities researchers at DA Davidson from $125.00 to $115.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the bank's stock. DA Davidson's target price indicates a potential upside of 30.92% from the company's current price. DA Davidson also issued estimates for SouthState's Q2 2025 earnings at $2.09 EPS, FY2025 earnings at $7.97 EPS and FY2026 earnings at $9.18 EPS.

Other equities analysts have also issued research reports about the company. Citigroup raised SouthState from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Raymond James upgraded SouthState from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $120.00 to $115.00 in a research note on Wednesday, April 2nd. Barclays reduced their price objective on SouthState from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Stephens restated an "overweight" rating and set a $119.00 target price on shares of SouthState in a research report on Monday. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $116.60.

SouthState Stock Up 1.2 %

Shares of NASDAQ:SSB traded up $1.06 during trading on Monday, hitting $87.84. 624,442 shares of the company were exchanged, compared to its average volume of 631,305. The firm's 50 day moving average price is $89.89 and its 200-day moving average price is $98.57. SouthState has a 12-month low of $70.68 and a 12-month high of $114.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $8.90 billion, a P/E ratio of 12.62 and a beta of 0.65.

Insider Transactions at SouthState

In other SouthState news, CAO Sara Arana sold 1,991 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $100.78, for a total value of $200,652.98. Following the completion of the transaction, the chief accounting officer now owns 4,787 shares in the company, valued at approximately $482,433.86. This represents a 29.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet P. Froetscher bought 2,717 shares of the firm's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $92.02 per share, for a total transaction of $250,018.34. Following the completion of the transaction, the director now directly owns 4,689 shares in the company, valued at approximately $431,481.78. This represents a 137.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. boosted its position in 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 purchasing an additional 696,014 shares in the last quarter. Norges Bank acquired a new position in shares of SouthState during the 4th quarter worth $67,260,000. Capital Research Global Investors purchased a new stake in shares of SouthState in the 4th quarter worth about $60,311,000. Assenagon Asset Management S.A. acquired a new stake in SouthState in the 4th quarter valued at about $21,498,000. Finally, JPMorgan Chase & Co. grew its stake in SouthState by 51.4% in the 4th quarter. JPMorgan Chase & Co. now owns 618,913 shares of the bank's stock valued at $61,569,000 after acquiring an additional 210,019 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.