SouthState (SSB) Projected to Post Earnings on Thursday

SouthState (NASDAQ:SSB) is expected to issue its quarterly earnings data after the market closes on Thursday, January 23rd. Analysts expect the company to announce earnings of $1.75 per share and revenue of $436,400.00 billion for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

SouthState (NASDAQ:SSB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.26. SouthState had a net margin of 21.24% and a return on equity of 9.41%. The company had revenue of $426.41 million during the quarter, compared to analysts’ expectations of $429.47 million. During the same period last year, the company posted $1.62 EPS. SouthState’s revenue was down .4% on a year-over-year basis. On average, analysts expect SouthState to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

SouthState Trading Up 1.3 %

Shares of NASDAQ SSB opened at $101.01 on Wednesday. SouthState has a 1 year low of $70.68 and a 1 year high of $114.26. The stock has a market cap of $7.71 billion, a P/E ratio of 15.59 and a beta of 0.70. The firm has a 50-day moving average of $103.68 and a 200 day moving average of $98.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.92 and a quick ratio of 0.91.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SSB shares. Citigroup started coverage on shares of SouthState in a report on Thursday, October 10th. They issued a “neutral” rating and a $102.00 target price for the company. Stephens reaffirmed an “overweight” rating and issued a $130.00 target price on shares of SouthState in a report on Thursday, January 2nd. UBS Group started coverage on shares of SouthState in a report on Tuesday, December 17th. They issued a “buy” rating and a $132.00 target price for the company. Piper Sandler lifted their target price on shares of SouthState from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $120.00 target price (up from $115.00) on shares of SouthState in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.56.

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.