SouthState Co. (NASDAQ:SSB – Free Report) – Investment analysts at DA Davidson dropped their FY2025 earnings estimates for shares of SouthState in a research note issued to investors on Tuesday, June 17th. DA Davidson analyst G. Tenner now anticipates that the bank will post earnings per share of $7.93 for the year, down from their previous forecast of $7.97. 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. DA Davidson also issued estimates for SouthState’s FY2026 earnings at $9.21 EPS.
Other equities research analysts also recently issued reports about the stock. Barclays lowered their price objective on shares of SouthState from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Raymond James Financial set a $110.00 price target on SouthState in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on SouthState from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Stephens reaffirmed an “overweight” rating and set a $119.00 target price on shares of SouthState in a report on Monday, April 28th. Finally, Jefferies Financial Group assumed coverage on SouthState in a research report on Wednesday, May 21st. They issued a “buy” rating and a $110.00 target price on the stock. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $116.27.
SouthState Stock Down 0.1%
NASDAQ:SSB opened at $85.99 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. SouthState has a twelve month low of $72.10 and a twelve month high of $114.27. The company has a market cap of $8.73 billion, a PE ratio of 12.36 and a beta of 0.77. The company’s 50 day moving average is $87.96 and its two-hundred day moving average is $94.71.
SouthState Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.16 annualized dividend and a yield of 2.51%. SouthState’s dividend payout ratio is presently 34.12%.
Hedge Funds Weigh In On SouthState
Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in SouthState by 5.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 773,843 shares of the bank’s stock valued at $76,982,000 after buying an additional 42,041 shares during the period. Capital Research Global Investors purchased a new stake in shares of SouthState during the 4th quarter worth about $60,311,000. HighTower Advisors LLC grew its position in shares of SouthState by 33.4% during the 4th quarter. HighTower Advisors LLC now owns 14,877 shares of the bank’s stock valued at $1,480,000 after acquiring an additional 3,724 shares during the period. Howard Financial Services LTD. purchased a new position in shares of SouthState in the 1st quarter valued at about $1,515,000. Finally, UMB Bank n.a. increased its stake in shares of SouthState by 1,747.5% in the 1st quarter. UMB Bank n.a. now owns 10,586 shares of the bank’s stock valued at $983,000 after purchasing an additional 10,013 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other institutional investors.
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.
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