SouthState Corp reports results for the quarter ended in January - Earnings Summary

SouthState Bank

24/07/2024 22:49

* SouthState Corp  SSB.N  reported quarterly adjusted
earnings of
$1.79​​ per share for the quarter ended in January, higher than
the same quarter last year, when the company reported EPS of
$1.63.  The mean expectation of eight analysts for the quarter
was for earnings of $1.54 per share. Wall Street expected
results to range from $1.47  to $1.62 per share.
    * Revenue fell 3.1% to $425.48 million from a year ago;
analysts
expected $418.08 million. 
    * SouthState Corp's reported EPS for the quarter was $1.73​.
    * The company reported quarterly net income of $132.37
million.
    * SouthState Corp shares had risen by 22.1% this quarter and
gained 10.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.9%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for SouthState Corp
is $92.50 
This summary was machine generated from LSEG data July 24 at
09:48 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       1.54           1.79           Beat
 Mar. 31 2024      1.55           1.58           Beat
 Dec. 31 2023      1.54           1.67           Beat
 Sep. 30 2023      1.63           1.62           Missed