SouthState Co. to Post FY2025 Earnings of $7.64 Per Share, DA Davidson Forecasts (NASDAQ:SSB)

SouthState Co. (NASDAQ:SSB) – DA Davidson lowered their FY2025 EPS estimates for SouthState in a note issued to investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $7.64 for the year, down from their prior forecast of $7.69. DA Davidson currently has a “Buy” rating and a $112.00 target price on the stock. The consensus estimate for SouthState’s current full-year earnings is $6.69 per share.

SouthState (NASDAQ:SSB) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.25. The firm had revenue of $425.48 million for the quarter, compared to the consensus estimate of $418.08 million. SouthState had a net margin of 20.84% and a return on equity of 9.31%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS.

Several other research firms have also recently issued reports on SSB. Hovde Group upped their price target on shares of SouthState from $97.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of SouthState from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Truist Financial lifted their price target on SouthState from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Stephens increased their target price on SouthState from $88.00 to $101.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, SouthState currently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

SouthState Trading Up 1.9 %

NASDAQ:SSB opened at $96.44 on Friday. SouthState has a one year low of $63.36 and a one year high of $102.82. The business’s 50-day simple moving average is $94.21 and its 200 day simple moving average is $84.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 15.73 and a beta of 0.67.

Institutional Trading of SouthState

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in SouthState by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 8,448,323 shares of the bank’s stock worth $713,461,000 after acquiring an additional 54,147 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of SouthState by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,328,984 shares of the bank’s stock worth $254,394,000 after purchasing an additional 371,987 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of SouthState by 1.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,802,373 shares of the bank’s stock worth $214,157,000 after purchasing an additional 45,176 shares during the last quarter. American Century Companies Inc. lifted its stake in SouthState by 2.4% during the second quarter. American Century Companies Inc. now owns 1,685,828 shares of the bank’s stock valued at $128,831,000 after purchasing an additional 39,492 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in SouthState by 2.8% during the second quarter. Earnest Partners LLC now owns 1,494,332 shares of the bank’s stock valued at $114,197,000 after purchasing an additional 40,879 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO William E. V. Matthews sold 5,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $100.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief financial officer now owns 36,964 shares of the company’s stock, valued at approximately $3,696,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO William E. V. Matthews sold 5,000 shares of SouthState stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $100.00, for a total transaction of $500,000.00. Following the sale, the chief financial officer now owns 36,964 shares of the company’s stock, valued at approximately $3,696,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel E. Bockhorst sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the insider now directly owns 33,328 shares of the company’s stock, valued at $3,332,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

SouthState Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.16 dividend on an annualized basis and a yield of 2.24%. This is a positive change from SouthState’s previous quarterly dividend of $0.23. SouthState’s payout ratio is currently 35.24%.

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.