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

SouthState Bank

26/04/2024 24:14

* SouthState Corp  SSB.N  reported quarterly adjusted
earnings of
$1.58​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of $1.93. 
The mean expectation of eight analysts for the quarter was
for earnings of $1.55 per share. Wall Street expected results to
range from $1.51  to $1.58 per share.
    * Revenue fell 8.2% to $415.49 million from a year ago;
analysts
expected $414.33 million. 
    * SouthState Corp's reported EPS for the quarter was $1.50​.
    * The company reported quarterly net income of $115.06
million.
    * SouthState Corp shares had fallen by 5.8% this quarter and
lost 5.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.9%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
 "hold."

Wall Street's median 12-month price target for SouthState Corp
is $95.00 
This summary was machine generated from LSEG data April 25 at
11:14 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
 Mar. 31 2024      1.55           1.58           Beat
 Dec. 31 2023      1.54           1.67           Beat
 Sep. 30 2023      1.63           1.62           Missed
 Jun. 30 2023      1.83           1.63           Missed