South State price target lowered to $118 from $121 at Piper Sandler

Piper Sandler lowered the firm’s price target on South State (SSB) to $118 from $121 and keeps an Overweight rating on the shares. The firm says results bested expectations nearly across the board. However, investors seem to be stuck on the fact that South State is making too much money, too quickly. Piper believes this is “a good problem to have.”