Providing a diverse range of perspectives from bullish to bearish, 6 analysts have published ratings on SouthState (NYSE:SSB) in the last three months.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 0 | 4 | 2 | 0 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 3 | 0 | 0 | 0 |
| 3M Ago | 0 | 1 | 1 | 0 | 0 |
Analysts have set 12-month price targets for SouthState, revealing an average target of $90.5, a high estimate of $98.00, and a low estimate of $81.00. This current average represents a 1.2% decrease from the previous average price target of $91.60.
Breaking Down Analyst Ratings: A Detailed Examination
The standing of SouthState among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Brandon King | Truist Securities | Lowers | Hold | $81.00 | $84.00 |
| Stephen Scouten | Piper Sandler | Raises | Overweight | $98.00 | $95.00 |
| Catherine Mealor | Keefe, Bruyette & Woods | Raises | Outperform | $95.00 | $92.00 |
| Michael Rose | Raymond James | Announces | Outperform | $90.00 | - |
| Stephen Scouten | Piper Sandler | Lowers | Overweight | $95.00 | $98.00 |
| Brandon King | Truist Securities | Lowers | Hold | $84.00 | $89.00 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to SouthState. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of SouthState compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of SouthState's stock. This comparison reveals trends in analysts' expectations over time.
Capture valuable insights into SouthState's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
Stay up to date on SouthState analyst ratings.
Unveiling the Story Behind SouthState
SouthState Corp is a United States-based bank holding company. It provides a wide range of banking services and products to its customers through a wholly-owned bank subsidiary, South State Bank. The Bank provides retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans through financial centers in Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia. These services include demand, time and savings deposits, lending and credit cards servicing, ATM processing, and wealth management and trust services.
A Deep Dive into SouthState's Financials
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining SouthState's financials over 3 months reveals challenges. As of 31 March, 2024, the company experienced a decline of approximately -8.2% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 27.69%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): SouthState's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of 2.08%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.26%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.07.
What Are Analyst Ratings?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.