SouthState Corporation Issues $350M Subordinated Notes

SouthState Corporation ( (SSB) ) has issued an update.

SouthState Corporation announced the issuance of $350 million in 7.000% Fixed-to-Floating Rate Subordinated Notes due 2035. The Notes will initially bear interest at a fixed rate until 2030, after which they will switch to a floating rate. This financial move, formalized through an Indenture with U.S. Bank Trust Company, aims to bolster the company’s financial strategy and market positioning.

The most recent analyst rating on (SSB) stock is a Buy with a $112.00 price target. To see the full list of analyst forecasts on SouthState Corporation stock, see the SSB Stock Forecast page.

Spark’s Take on SSB Stock

According to Spark, TipRanks’ AI Analyst, SSB is a Outperform.

SouthState Corporation’s overall stock score of 80 reflects strong financial performance and strategic execution highlighted in the earnings call. While technical analysis and valuation present a more neutral perspective, the company’s robust financials and strategic flexibility provide a positive outlook.

To see Spark’s full report on SSB stock, click here.

More about SouthState Corporation

Average Trading Volume: 794,557

Technical Sentiment Signal: Buy

Current Market Cap: $9.03B

Find detailed analytics on SSB stock on TipRanks’ Stock Analysis page.