DA Davidson Has Weak Estimate for SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB) – DA Davidson cut their FY2025 EPS estimates for SouthState in a research report issued on Tuesday, June 17th. DA Davidson analyst G. Tenner now anticipates that the bank will earn $7.93 per share for the year, down from their previous estimate of $7.97. DA Davidson 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. DA Davidson also issued estimates for SouthState’s FY2026 earnings at $9.21 EPS.

Several other equities analysts have also weighed in on the stock. Raymond James Financial set a $110.00 price target on shares of SouthState in a research report on Monday, April 28th. Truist Financial initiated coverage on shares of SouthState in a report on Tuesday, May 13th. They set a “buy” rating and a $106.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and set a $119.00 price objective on shares of SouthState in a report on Monday, April 28th. Jefferies Financial Group initiated coverage on shares of SouthState in a report on Wednesday, May 21st. They set a “buy” rating and a $110.00 price objective on the stock. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of SouthState from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. One equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $116.27.

SouthState Price Performance

SSB opened at $85.92 on Thursday. The firm has a market cap of $8.72 billion, a P/E ratio of 12.34 and a beta of 0.77. The firm has a 50-day moving average of $87.87 and a 200 day moving average of $94.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. SouthState has a fifty-two week low of $72.10 and a fifty-two week high of $114.27.

Institutional Investors Weigh In On SouthState

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of SouthState by 24.2% in the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the bank’s stock worth $51,000 after buying an additional 99 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of SouthState by 1.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,537 shares of the bank’s stock worth $949,000 after buying an additional 112 shares in the last quarter. Bragg Financial Advisors Inc raised its stake in SouthState by 4.3% in the fourth quarter. Bragg Financial Advisors Inc now owns 2,776 shares of the bank’s stock valued at $276,000 after purchasing an additional 115 shares in the last quarter. IFP Advisors Inc raised its stake in SouthState by 14.2% in the first quarter. IFP Advisors Inc now owns 943 shares of the bank’s stock valued at $87,000 after purchasing an additional 117 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in SouthState by 5.2% in the first quarter. Nisa Investment Advisors LLC now owns 2,368 shares of the bank’s stock valued at $220,000 after purchasing an additional 118 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.

SouthState Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued 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 of this dividend was Friday, May 9th. SouthState’s payout ratio is 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.