SouthState Co. (NASDAQ:SSB) is expected to report earnings of $1.25 per share

Wall Street analysts expect SouthState Co. (NASDAQ:SSB – Get Rating) to report earnings per share (EPS) of $1.25 for the current fiscal quarter, Zacks reports. Three analysts provided SouthState earnings estimates. The lowest EPS estimate is $1.22 and the highest is $1.32. SouthState reported earnings per share of $2.17 in the same quarter last year, suggesting a negative 42.4% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.

According to Zacks, analysts expect SouthState to report annual earnings of $5.69 per share for the current year, with EPS estimates ranging from $5.55 to $5.80. For the next fiscal year, analysts expect the company to report earnings of $6.69 per share, with EPS estimates ranging from $6.60 to $6.75. Zacks Investment Research EPS averages are an average based on a survey of research companies that cover SouthState.

SouthState (NASDAQ:SSB – Get Rating) last reported quarterly earnings data on Monday, January 24. The bank reported earnings per share of $1.59 for the quarter, beating the consensus estimate of $1.52 by $0.07. The company posted revenue of $350.00 million in the quarter, versus a consensus estimate of $341.91 million. SouthState had a return on equity of 11.27% and a net margin of 33.04%. SouthState’s revenue for the quarter was down 3.7% year over year. During the same period of the previous year, the company achieved EPS of $1.44.

(A d)

We were too!

What’s the point of being a guide if your audience can’t immediately apply what they’ve learned to their own trading account?

“Options Basics” will provide clear, simple instructions in English and easy-to-understand tools and techniques to help you get your account up and running!

Several equity research analysts have recently commented on the company. Stephens raised his price target on SouthState from $76.00 to $84.50 and gave the stock an “equal weight” rating in a Wednesday, Jan. 26 research note. Raymond James raised its target price on SouthState from $90.00 to $92.00 and gave the company an “outperform” rating in a Tuesday, January 25 research report. Finally, Zacks Investment Research upgraded SouthState from a “buy” to a “hold” rating in a Friday, January 28 research report. Two investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $85.34.

In other SouthState news, insider Greg A. Lapointe sold 1,470 shares in a trade dated Tuesday, March 8. The shares were sold at an average price of $82.15, for a total value of $120,760.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, manager Ernest S. Pinner sold 1,111 shares in a trade that took place on Monday, February 28. The shares were sold at an average price of $90.00, for a total transaction of $99,990.00. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 4,335 shares of the company valued at $375,706. Insiders of the company hold 1.88% of the shares of the company.

Large investors have recently changed their positions in the stock. Liberty Wealth Management LLC increased its position in SouthState by 102.5% during the third quarter. Liberty Wealth Management LLC now owns 328 shares of the bank worth $26,000 after buying 166 additional shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of SouthState in the fourth quarter valued at around $52,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of SouthState in the fourth quarter valued at approximately $53,000. UMB Bank NA MO bought a new stake in SouthState in the fourth quarter worth approximately $56,000. Finally, Rockefeller Capital Management LP increased its stake in SouthState by 31.1% in the fourth quarter. Rockefeller Capital Management LP now owns 730 shares of the bank valued at $58,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors hold 84.30% of the company’s shares.

Shares of SSB opened at $83.51 on Friday. SouthState has a 1-year low of $62.60 and a 1-year high of $93.34. The company has a debt ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $5.74 billion, a price-earnings ratio of 12.45 and a beta of 0.85. The company has a 50-day moving average of $85.89 and a 200-day moving average of $80.89.

The company also recently declared a quarterly dividend, which was paid on Friday, February 18. Shareholders of record on Friday, February 11 received a dividend of $0.49 per share. The ex-dividend date was Thursday, February 10. This represents a dividend of $1.96 on an annualized basis and a yield of 2.35%. SouthState’s dividend payout ratio is currently 29.21%.

About Southern State (Get a rating)

SouthState Corporation operates as a bank holding company for SouthState Bank, a National Association which provides a range of personal and business banking services and products. It accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposit, money market accounts, and other term deposits.

Featured articles

Get a Free Copy of Zacks’ Research Report on SouthState (SSB)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for SouthState (NASDAQ:SSB)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in SouthState right now?

Before you consider SouthState, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and SouthState wasn’t on the list.

While SouthState currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Comments are closed.