SouthState Bank (NYSE:SSB) Given New $120.00 Price Target at Stephens

SouthState Bank (NYSE:SSB) had its target price boosted by analysts at Stephens from $110.00 to $120.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 18.92% from the company’s previous close.

Other analysts have also issued research reports about the stock. TD Cowen cut their price objective on shares of SouthState Bank from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. UBS Group decreased their price target on SouthState Bank from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. DA Davidson upped their target price on SouthState Bank from $112.00 to $119.00 and gave the company a “buy” rating in a report on Monday. Citigroup reduced their price target on shares of SouthState Bank from $117.00 to $116.00 and set a “buy” rating for the company in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of SouthState Bank in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SouthState Bank has an average rating of “Moderate Buy” and a consensus price target of $116.29.

SouthState Bank Stock Up 0.7%

SSB stock traded up $0.72 during mid-day trading on Monday, reaching $100.91. 72,194 shares of the stock traded hands, compared to its average volume of 714,539. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $94.28. SouthState Bank has a 52 week low of $77.74 and a 52 week high of $109.64. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 12.80 and a beta of 0.74.

SouthState Bank (NYSE:SSB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.30 by $0.17. SouthState Bank had a return on equity of 10.86% and a net margin of 21.26%.The business had revenue of $686.87 million for the quarter, compared to analyst estimates of $667.88 million. During the same quarter in the previous year, the firm earned $1.93 EPS.

Institutional Trading of SouthState Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of SouthState Bank by 12.4% during the 2nd quarter. Blue Trust Inc. now owns 991 shares of the company’s stock worth $91,000 after buying an additional 109 shares during the period. Sheets Smith Wealth Management increased its stake in SouthState Bank by 1.7% during the 3rd quarter. Sheets Smith Wealth Management now owns 6,456 shares of the company’s stock worth $638,000 after buying an additional 111 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of SouthState Bank by 4.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 2,480 shares of the company’s stock worth $245,000 after buying an additional 115 shares during the period. Nicholson Wealth Management Group LLC increased its holdings in shares of SouthState Bank by 1.8% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 7,201 shares of the company’s stock valued at $663,000 after acquiring an additional 125 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in SouthState Bank by 14.0% in the second quarter. Fifth Third Bancorp now owns 1,090 shares of the company’s stock valued at $100,000 after acquiring an additional 134 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

SouthState Bank Company Profile

SouthState Bank (NYSE: SSB) is a bank holding company headquartered in Winter Haven, Florida, that provides a range of commercial and retail banking services. Through its subsidiary, SouthState Bank, the company serves businesses, institutions and individuals with deposit, lending and treasury management solutions. Its core business lines include commercial and industrial loans, commercial real estate lending, consumer mortgages and home equity loans.

In addition to traditional lending and deposit products, SouthState Bank offers specialized services such as treasury and cash management, merchant services, payment solutions and online banking.