Thu Sep 19 06:15:57 UTC 2024: ## SouthState Bank (SSB) Earns “Moderate Buy” Rating, Analysts See Strong Potential
**CHARLOTTE, NC – September 19, 2024** – SouthState Corporation (NASDAQ: SSB), the bank holding company for SouthState Bank, National Association, is attracting positive attention from analysts, with a consensus rating of “Moderate Buy” based on eight research firms covering the company.
The average 1-year target price among analysts is $102.75, indicating potential upside for investors. Several firms have recently raised their price targets and ratings, including Keefe, Bruyette & Woods, Hovde Group, Stephens, and Truist Financial. Notably, Piper Sandler increased their price objective to $98.00 and gave the company an “overweight” rating.
Institutional investors and hedge funds are also showing strong interest in SouthState. Recent activity includes significant purchases by Norges Bank, Franklin Resources Inc., Dimensional Fund Advisors LP, Jupiter Asset Management Ltd., and Capital World Investors. Collectively, institutional investors own 89.76% of the stock.
SouthState recently reported strong second-quarter earnings, exceeding analysts’ expectations with $1.79 EPS, compared to a consensus estimate of $1.54. The bank also announced a quarterly dividend increase, highlighting its commitment to shareholder returns.
SouthState provides a comprehensive range of banking services to individuals and businesses, including checking and savings accounts, certificates of deposit, and corporate banking solutions.
Despite a recent decline in revenue, analysts remain optimistic about SouthState’s future prospects, with an average expectation of 6.7 earnings per share for the current fiscal year.
First Piper 