SouthState Bank (NYSE:SSB) Stock Rating Upgraded by TD Cowen

Key Points

• SouthState Bank has been upgraded to a "strong-buy" rating by TD Cowen, highlighting increased analysts' confidence in the stock.
• The company reported $2.30 earnings per share, surpassing the consensus estimate of $2.00, indicating strong financial performance in its latest quarterly earnings.
• Currently, SouthState Bank holds a market capitalization of $10.12 billion and has demonstrated solid revenue generation with $664.77 million during the last quarter.

SouthState Bank (NYSE:SSB - Get Free Report) was upgraded by research analysts at TD Cowen to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Wall Street Zen upgraded shares of SouthState Bank from a "sell" rating to a "hold" rating in a research note on Sunday, July 27th. Zacks Research cut shares of SouthState Bank from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy".

SouthState Bank Stock Performance

Shares of NYSE:SSB opened at $100.01 on Thursday. The company has a market capitalization of $10.12 billion, a P/E ratio of 14.90 and a beta of 0.74. SouthState Bank has a 52 week low of $77.74 and a 52 week high of $114.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.94 and a quick ratio of 0.93. The firm has a 50 day moving average price of $98.64.

SouthState Bank (NYSE:SSB - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.30. SouthState Bank had a net margin of 19.27% and a return on equity of 10.23%. The company had revenue of $664.77 million during the quarter, compared to the consensus estimate of $639.47 million.

SouthState Bank 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 accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits.

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