DA Davidson Predicts SouthState FY2025 Earnings

SouthState Co. (NASDAQ:SSB) – DA Davidson issued their FY2025 EPS estimates for SouthState in a research report issued on Tuesday, January 28th. DA Davidson analyst G. Tenner anticipates that the bank will earn $9.25 per share for the year. The consensus estimate for SouthState’s current full-year earnings is $6.99 per share.

A number of other equities analysts have also weighed in on the company. Hovde Group lowered SouthState from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of SouthState in a research note on Friday, January 24th. Citigroup raised shares of SouthState from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $106.00 to $128.00 in a research note on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Finally, Truist Financial reduced their target price on SouthState from $111.00 to $103.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, SouthState presently has an average rating of “Moderate Buy” and an average price target of $115.44.

SouthState Stock Performance

NASDAQ:SSB opened at $106.68 on Thursday. The business’s fifty day moving average is $103.43 and its 200 day moving average is $98.90. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 14.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.92. SouthState has a 52-week low of $70.68 and a 52-week high of $114.26.

Hedge Funds Weigh In On SouthState

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp grew its position in SouthState by 34.1% during the fourth quarter. Van ECK Associates Corp now owns 58,540 shares of the bank’s stock valued at $5,824,000 after buying an additional 14,894 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of SouthState by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 21,200 shares of the bank’s stock worth $2,109,000 after purchasing an additional 100 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in SouthState in the 4th quarter worth $137,000. Empowered Funds LLC purchased a new position in SouthState during the fourth quarter valued at $3,769,000. Finally, Caprock Group LLC grew its holdings in SouthState by 5.8% during the fourth quarter. Caprock Group LLC now owns 2,567 shares of the bank’s stock valued at $255,000 after purchasing an additional 140 shares during the period. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SouthState

In related news, CFO William E. V. Matthews sold 6,531 shares of SouthState stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $108.29, for a total value of $707,241.99. Following the completion of the sale, the chief financial officer now directly owns 34,107 shares in the company, valued at approximately $3,693,447.03. This trade represents a 16.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by company insiders.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, February 7th. SouthState’s dividend payout ratio (DPR) is presently 33.33%.

About SouthState

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.