SouthState Corporation: Attractive Buy Rating Amid Underperformance and Growth Potential

SouthState Corporation (SSB – Research Report), the Financial sector company, was revisited by a Wall Street analyst today. Analyst Gary Tenner from D.A. Davidson reiterated a Buy rating on the stock and has a $115.00 price target.

Gary Tenner has given his Buy rating due to a combination of factors that highlight SouthState Corporation as a promising investment opportunity. The company’s stock has shown year-to-date underperformance compared to the KRX index, which presents an attractive entry point for investors. Additionally, the recent acquisition of IBTX and system conversion are expected to drive positive operating leverage in the latter half of the year, supporting a robust adjusted return on assets.
Tenner also sees the valuation of SouthState Corporation as compelling, with the stock trading at 9.3 times the estimated 2026 earnings and a projected 27% growth in tangible book value. The company’s shares are considered attractive due to their strong profitability and potential upside in a more favorable growth environment. The Buy rating is further supported by a price target of $115, which reflects a higher multiple on future earnings and tangible book value, backed by strong return on assets and return on tangible common equity projections.

In another report released on June 12, KBW also reiterated a Buy rating on the stock with a $120.00 price target.