SouthState (NASDAQ:SSB) Given New $117.00 Price Target at DA Davidson

Key Points

• DA Davidson has raised SouthState's price target from $115.00 to $117.00, indicating a potential upside of 20.25% based on the stock's last closing price.
• SouthState's stock has an average rating of "Buy" from analysts, with a consensus price target of $116.27.
• The stock reported earnings of $2.30 per share for the last quarter, exceeding expectations by $0.32, with revenue significantly surpassing analyst forecasts.

SouthState (NASDAQ:SSB - Get Free Report) had its target price raised by investment analysts at DA Davidson from $115.00 to $117.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the bank's stock. DA Davidson's price objective would suggest a potential upside of 26.25% from the company's previous close. DA Davidson also issued estimates for SouthState's Q3 2025 earnings at $2.25 EPS, FY2025 earnings at $8.35 EPS and FY2026 earnings at $9.37 EPS.

Several other analysts also recently issued reports on the stock. Truist Financial started coverage on shares of SouthState in a report on Tuesday, May 13th. They issued a "buy" rating and a $106.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on SouthState from $130.00 to $120.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Citigroup reiterated a "buy" rating and set a $117.00 price objective (up previously from $113.00) on shares of SouthState in a research report on Monday. Hovde Group upped their target price on shares of SouthState from $97.00 to $105.00 and gave the company a "market perform" rating in a report on Friday, July 25th. Finally, Jefferies Financial Group began coverage on shares of SouthState in a report on Wednesday, May 21st. They issued a "buy" rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $115.27.

SouthState Price Performance

SSB stock traded down $1.50 on Monday, reaching $92.67. 1,113,382 shares of the company's stock were exchanged, compared to its average volume of 949,530. The stock has a fifty day moving average of $92.29 and a 200-day moving average of $93.40. SouthState has a twelve month low of $77.74 and a twelve month high of $114.26. The firm has a market cap of $9.41 billion, a PE ratio of 13.31 and a beta of 0.77. 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 (NASDAQ:SSB - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $2.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.32. The firm had revenue of $840.50 million for the quarter, compared to analyst estimates of $645.12 million. SouthState had a return on equity of 9.62% and a net margin of 22.38%. During the same quarter in the prior year, the company posted $1.74 earnings per share. As a group, equities analysts predict that SouthState will post 8.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Janet P. Froetscher acquired 3,338 shares of SouthState stock in a transaction on Wednesday, July 30th. The shares were bought at an average price of $97.31 per share, for a total transaction of $324,820.78. Following the completion of the purchase, the director directly owned 8,294 shares in the company, valued at $807,089.14. This trade represents a 67.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On SouthState

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of SouthState by 31.2% in the first quarter. Vanguard Group Inc. now owns 11,079,578 shares of the bank's stock worth $1,028,406,000 after buying an additional 2,637,786 shares during the period. Dimensional Fund Advisors LP grew its stake in SouthState by 34.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,556,410 shares of the bank's stock valued at $422,915,000 after purchasing an additional 1,164,348 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in SouthState by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,479,298 shares of the bank's stock valued at $322,949,000 after purchasing an additional 11,728 shares in the last quarter. Geode Capital Management LLC grew its stake in SouthState by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 1,913,615 shares of the bank's stock valued at $192,531,000 after purchasing an additional 93,312 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in SouthState by 14.4% during the 1st quarter. American Century Companies Inc. now owns 1,769,537 shares of the bank's stock valued at $164,249,000 after purchasing an additional 222,818 shares in the last quarter. Hedge funds and other institutional investors own 89.76% of the company's stock.

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.