SouthState Bank (NYSE:SSB) Given New $125.00 Price Target at Jefferies Financial Group

SouthState Bank (NYSE:SSB) had its target price lifted by equities research analysts at Jefferies Financial Group from $120.00 to $125.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 21.44% from the stock’s current price.

A number of other research firms also recently issued reports on SSB. DA Davidson raised their price objective on shares of SouthState Bank from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings upgraded shares of SouthState Bank from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. TD Cowen upped their price objective on SouthState Bank from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Raymond James Financial lifted their target price on SouthState Bank from $110.00 to $115.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 7th. Finally, Piper Sandler reduced their price target on SouthState Bank from $121.00 to $118.00 and set an “overweight” rating for the company in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $118.29.

SouthState Bank Stock Up 0.6%

SSB traded up $0.60 during mid-day trading on Monday, reaching $102.93. 903,740 shares of the company traded hands, compared to its average volume of 812,316. The stock’s fifty day moving average is $95.78. The firm has a market cap of $10.35 billion, a PE ratio of 13.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.93 and a quick ratio of 0.92. SouthState Bank has a 52-week low of $77.74 and a 52-week high of $108.18.

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

Institutional Investors Weigh In On SouthState Bank

A number of hedge funds have recently bought and sold shares of the business. Laurel Wealth Advisors LLC raised its position in SouthState Bank by 9,074.2% during the second quarter. Laurel Wealth Advisors LLC now owns 1,435,668 shares of the company’s stock valued at $132,125,000 after purchasing an additional 1,420,019 shares during the period. Norges Bank purchased a new position in SouthState Bank during the second quarter worth $109,029,000. AQR Capital Management LLC boosted its position in shares of SouthState Bank by 269.4% during the third quarter. AQR Capital Management LLC now owns 1,219,079 shares of the company’s stock valued at $120,530,000 after buying an additional 889,042 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of SouthState Bank in the second quarter worth about $81,769,000. Finally, Jane Street Group LLC increased its position in shares of SouthState Bank by 810.7% during the second quarter. Jane Street Group LLC now owns 755,705 shares of the company’s stock worth $69,548,000 after acquiring an additional 672,721 shares during the period. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.