SouthState Corporation (SSB)
NYSE:SSB
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SouthState Corporation
(NYSE:SSB)
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Rating:75Outperform
Price Target:
$106.00
â–²(7.95% Upside)
Action:ReiteratedDate:02/21/26
SSB scores well on core fundamentals and balance-sheet positioning, supported by reasonable valuation and a constructive price trend. The score is held back primarily by the recent drop/volatility in operating and free cash flow, plus earnings-call headwinds around accretion decline, some margin/loan-yield pressure, and monitored credit items.
Positive Factors
Conservative balance sheet & healthy capital
SouthState's materially lower debt-to-equity and enlarged equity base provide durable loss-absorption and funding flexibility. Healthy CET1/TCE metrics noted elsewhere support lending capacity, buybacks, and dividend policy while reducing insolvency and refinancing risk over the medium term.
Negative Factors
Weak and volatile cash flow generation
Material step-down and volatility in operating and free cash flow reduces financial flexibility for deposits, buybacks, and capital deployment. Persistent weak cash conversion can constrain capacity to absorb loan losses, invest in growth, or sustain payout policy during adverse cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet & healthy capital
SouthState's materially lower debt-to-equity and enlarged equity base provide durable loss-absorption and funding flexibility. Healthy CET1/TCE metrics noted elsewhere support lending capacity, buybacks, and dividend policy while reducing insolvency and refinancing risk over the medium term.
Read all positive factors
SouthState Corporation (SSB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.59B
Dividend Yield2.38%
Average Volume (3M)852.49K
Price to Earnings (P/E)9.5
Beta (1Y)0.98
Revenue Growth33.87%
EPS Growth12.26%
CountryUS
Employees6,405
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.46
Shares Outstanding98,068,650
10 Day Avg. Volume754,329
30 Day Avg. Volume852,493
Financial Highlights & Ratios
PEG Ratio0.91
Price to Book (P/B)1.04
Price to Sales (P/S)2.51
P/FCF Ratio-17.37
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue2.82
Enterprise Value/Gross Profit4.13
Enterprise Value/Ebitda9.05
Forecast
1Y Price Target
$118.18Price Target Upside20.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)9.5
Revenue Forecast (FY)$2.78B
SouthState Corporation Business Overview & Revenue Model
Company Description
SouthState Corporation operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies. It accepts checking accounts, savings deposits, interest-bea...
How the Company Makes Money
SouthState primarily makes money through a traditional bank revenue model centered on (1) net interest income and (2) noninterest income. Net interest income is earned from the spread between interest collected on loans and other interest-earning ...
SouthState Corporation Key Performance Indicators (KPIs)
SouthState Corporation Earnings Call Summary
Earnings Call Date:Jan 22, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call emphasized successful execution on the major acquisition integration, strong earnings and tangible book value growth, healthy capital ratios, robust loan production and pipeline expansion, and confidence to continue share repurchases opportunistically. Headwinds cited were lower accretion income sequentially, a quarter of higher performance-related expenses, some temporary substandard loan increases in lease-up multifamily, and a high Q4 payout ratio that management said is not expected to persist. Management reiterated conservative margin and deposit assumptions and provided clear 2026 guidance ranges for NIM, accretion, and NIE growth.Positive Updates
Strong EPS and Earnings Growth
Excluding merger costs, 2025 earnings per share increased over 30%; reported full-year EPS of $9.50 and Q4 EPS of $2.47. PPNR was $323 million in Q4 and $1.27 billion for the full year. Return on tangible common equity for the year was approximately 20%.
Negative Updates
Accretion Income Decline and Remaining Discount
Accretion income was $50 million in Q4, down $33 million from Q3. Management noted approximately $260 million of remaining loan discount to be accreted (timing and impact to NII remain factors).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong EPS and Earnings Growth
Excluding merger costs, 2025 earnings per share increased over 30%; reported full-year EPS of $9.50 and Q4 EPS of $2.47. PPNR was $323 million in Q4 and $1.27 billion for the full year. Return on tangible common equity for the year was approximately 20%.
Read all positive updates
Company Guidance
The company guided to a stable NIM of 3.80%–3.90% for 2026 with average interest‑earning assets of $61–62B (starting Q1 around $60–60.5B), three rate cuts assumed, loan accretion forecast of $125M (with ~$260M remaining to accrete), and a deposit beta assumed near 27% (deposit cost roughly 1.75% in Q1, with room to move toward 30% over time); loan growth was guided to mid‑ to upper‑single digits (Q4 annualized loan and deposit growth were each 8%, Q4 production $3.9B, +16% QoQ, Texas/Colorado production $888M vs. $775M in Q3), new loan coupons were ~6.06% (6.31% in TX/CO), overall loan yield 6.13%, fixed‑rate repricing ~$4.3B at ~5.06% and ~$2B of legacy independent loans repricing from ~7.25% to ~6.25%. Management expects NIE to grow ~4% from 2025’s $1.407B (~$1.46B), PPNR run‑rate supportive (2025 PPNR $1.27B; Q4 $323M), EPS momentum (2025 EPS $9.50; Q4 $2.47), efficiency ratio <50%, NCOs 9 bps in Q4 (11 bps FY), provision activity tied to growth, and healthy capital (TCE 8.8%, CET1 11.4%) while maintaining an active buyback posture (repurchased 2M shares in Q4 at ~$90.65, new authorization netting ~5.56M added to 560k remaining) and a target longer‑term payout range of roughly 40%–60%.SouthState Corporation Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.76B | 2.39B | 2.19B | 1.67B | 1.42B |
| Gross Profit | 2.57B | 1.65B | 1.59B | 1.53B | 1.53B |
| EBITDA | 1.17B | 756.95M | 689.68M | 697.95M | 667.42M |
| Net Income | 798.67M | 534.78M | 494.31M | 496.05M | 475.54M |
Balance Sheet | |||||
| Total Assets | 67.20B | 46.38B | 44.90B | 43.92B | 41.84B |
| Cash, Cash Equivalents and Short-Term Investments | 6.90B | 898.68M | 5.55B | 6.06B | 5.90B |
| Total Debt | 1.31B | 896.14M | 970.78M | 938.38M | 1.10B |
| Total Liabilities | 58.14B | 40.49B | 39.37B | 38.84B | 37.04B |
| Stockholders Equity | 9.06B | 5.89B | 5.53B | 5.07B | 4.80B |
Cash Flow | |||||
| Free Cash Flow | -542.00M | 476.15M | 507.87M | 1.71B | 387.27M |
| Operating Cash Flow | -471.75M | 511.96M | 546.76M | 1.73B | 415.69M |
| Investing Cash Flow | 792.19M | -886.18M | -1.43B | -4.86B | -2.32B |
| Financing Cash Flow | 1.46B | 767.41M | 566.00M | -2.28B | 4.02B |
SouthState Corporation Technical Analysis
Positive
98.19
Price Trends
97.44
Positive
96.04
Positive
95.41
Positive
Market Momentum
0.68
Negative
60.88
Neutral
80.93
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SSB, the sentiment is Positive. The current price of 98.19 is above the 20-day moving average (MA) of 93.13, above the 50-day MA of 97.44, and above the 200-day MA of 95.41, indicating a bullish trend. The MACD of 0.68 indicates Negative momentum. The RSI at 60.88 is Neutral, neither overbought nor oversold. The STOCH value of 80.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SSB.
SouthState Corporation Risk Analysis
SouthState Corporation disclosed 67 risk factors in its most recent earnings report. SouthState Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
SouthState Corporation Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $9.59B | 9.50 | 9.00% | 2.38% | 33.87% | 12.26% | |
75 Outperform | $11.61B | 11.94 | 11.06% | 2.44% | -4.51% | 20.78% | |
74 Outperform | $11.62B | 9.86 | 10.70% | 2.49% | 4.78% | 21.68% | |
74 Outperform | $9.90B | 10.50 | 11.71% | 1.40% | 3.58% | 13.93% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $9.17B | 12.43 | 9.63% | 1.37% | 38.81% | 10.38% | |
62 Neutral | $8.47B | 7.96 | 13.33% | 1.80% | 6.30% | 25.28% |
* Financial Sector Average
SSB
SouthState Corporation
98.19
16.36
20.00%
FHN
First Horizon
24.25
7.18
42.05%
UMBF
UMB Financial
120.63
31.48
35.32%
WBS
Webster Financial
72.60
29.45
68.26%
WTFC
Wintrust Financial
145.51
44.15
43.56%
WAL
Western Alliance
77.61
12.79
19.73%
SouthState Corporation Corporate Events
Financial Disclosures
SouthState Corporation Schedules First Quarter 2026 Earnings Release
Neutral
Apr 3, 2026
SouthState Bank Corporation announced on April 3, 2026, that it planned to release its first quarter 2026 earnings results after the market close on Thursday, April 23, 2026, with the full report to be accessible via the company’s website in...
Stock BuybackDividendsFinancial Disclosures
SouthState Corporation Reports Strong Q4 Results, Boosts Shareholder Returns
Positive
Jan 22, 2026
On January 22, 2026, SouthState Bank Corporation reported unaudited results for the fourth quarter and full year ended December 31, 2025, highlighting strong profitability and balance sheet growth. Fourth-quarter diluted earnings per share rose 32...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.