DA Davidson Has Bearish Estimate for SouthState Q2 Earnings

SouthState Co. (NASDAQ:SSB - Free Report) - Equities researchers at DA Davidson reduced their Q2 2025 EPS estimates for SouthState in a research report issued on Tuesday, June 17th. DA Davidson analyst G. Tenner now expects that the bank will post earnings of $2.06 per share for the quarter, down from their prior forecast of $2.09. DA Davidson currently 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.

SSB has been the topic of a number of other reports. Barclays dropped their price objective on shares of SouthState from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial started coverage on SouthState in a research report on Tuesday, May 13th. They set a "buy" rating and a $106.00 price target for the company. Raymond James Financial set a $110.00 price objective on shares of 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 price objective on the stock. Finally, Stephens reaffirmed an "overweight" rating and issued a $119.00 target price on shares of SouthState in a research report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, SouthState has an average rating of "Buy" and an average price target of $116.27.

SouthState Stock Up 0.9%

Shares of SSB traded up $0.79 on Wednesday, hitting $85.92. The company's stock had a trading volume of 773,925 shares, compared to its average volume of 665,865. The firm's fifty day moving average price is $87.87 and its 200-day moving average price is $94.87. SouthState has a fifty-two week low of $72.10 and a fifty-two week high of $114.27. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 12.34 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Voya Investment Management LLC grew its holdings in SouthState by 282.2% during the first quarter. Voya Investment Management LLC now owns 85,145 shares of the bank's stock worth $7,903,000 after purchasing an additional 62,868 shares during the period. Strs Ohio bought a new position in shares of SouthState during the 1st quarter worth approximately $8,795,000. Intech Investment Management LLC increased its holdings in shares of SouthState by 48.4% during the 1st quarter. Intech Investment Management LLC now owns 46,120 shares of the bank's stock worth $4,281,000 after acquiring an additional 15,034 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in SouthState during the 1st quarter valued at $45,000. Finally, Jane Street Group LLC boosted its position in SouthState by 4.6% during the first quarter. Jane Street Group LLC now owns 82,984 shares of the bank's stock worth $7,703,000 after purchasing an additional 3,678 shares during the period. 89.76% of the stock is currently owned by institutional investors and hedge funds.

SouthState Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, May 9th. 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.