DA Davidson Issues Negative Outlook for SouthState Earnings

SouthState Co. (NASDAQ:SSB) – Research analysts at DA Davidson cut their Q1 2025 earnings per share estimates for shares of SouthState in a research note issued on Wednesday, April 2nd. DA Davidson analyst G. Tenner now expects that the bank will post earnings per share of $1.10 for the quarter, down from their prior estimate of $1.11. The consensus estimate for SouthState’s current full-year earnings is $8.12 per share. DA Davidson also issued estimates for SouthState’s FY2025 earnings at $7.51 EPS and FY2026 earnings at $9.20 EPS.

Several other brokerages also recently weighed in on SSB. UBS Group began coverage on SouthState in a research note on Tuesday, December 17th. They set a “buy” rating and a $132.00 target price for the company. Barclays assumed coverage on SouthState in a research report on Tuesday. They issued an “overweight” rating and a $120.00 price objective for the company. Raymond James raised shares of SouthState from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $120.00 to $115.00 in a research report on Wednesday. Stephens reissued an “overweight” rating and issued a $130.00 price target on shares of SouthState in a report on Friday, March 7th. Finally, Citigroup upgraded shares of SouthState from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $106.00 to $128.00 in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $118.40.

SouthState Trading Up 2.6 %

Shares of NASDAQ:SSB opened at $94.66 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 0.91. The stock’s 50-day moving average is $98.65 and its 200-day moving average is $100.54. The company has a market cap of $9.60 billion, a P/E ratio of 13.60 and a beta of 0.68. SouthState has a 52-week low of $70.68 and a 52-week high of $114.27.

Institutional Trading of SouthState

Institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new position in SouthState during the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC bought a new position in shares of SouthState during the fourth quarter worth $45,000. Quadrant Capital Group LLC grew its holdings in shares of SouthState by 24.2% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the bank’s stock valued at $51,000 after buying an additional 99 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of SouthState by 181.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 586 shares of the bank’s stock valued at $54,000 after buying an additional 378 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in SouthState during the 4th quarter worth $102,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

Insider Buying and Selling at SouthState

In other SouthState news, Director G Stacy Smith bought 3,100 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $93.60 per share, for a total transaction of $290,160.00. Following the completion of the purchase, the director now owns 36,779 shares in the company, valued at $3,442,514.40. This represents a 9.20 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Janet P. Froetscher bought 2,717 shares of the company’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $92.02 per share, with a total value of $250,018.34. Following the completion of the purchase, the director now owns 4,689 shares of the company’s stock, valued at approximately $431,481.78. The trade was a 137.78 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

SouthState Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 7th were paid a $0.54 dividend. The ex-dividend date was Friday, February 7th. This represents a $2.16 annualized dividend and a dividend yield of 2.28%. SouthState’s dividend payout ratio is currently 31.03%.

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.