SouthState Corporation (SSB) AI Stock Analysis

• Market Cap: $9.02B
• Dividend Yield: 2.43%
• Average Volume (3M): 766.70K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 1.06
• Revenue Growth: 9.38%
• EPS Growth: 3.47%
• Country: US
• Employees: 6,405
• Sector: Financial
• Sector Strength: 79
• Industry: Banks - Regional
• EPS (TTM): 0.87
• Shares Outstanding: 101,493,370
• 10 Day Avg. Volume: 944,395
• 30 Day Avg. Volume: 766,700
• PEG Ratio: -1.91
• Price to Book (P/B): 1.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 134.41
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 0.97
• Enterprise Value/Gross Profit: 5.33
• Enterprise Value/Ebitda: 3.28
• 1Y Price Target: $114.43
• Price Target Upside: 24.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 80 Outperform
• Price Target: $102.00 ▲(10.99%Upside)

SouthState Corporation's strong financial performance and positive earnings call sentiment are the primary drivers of its high score. The technical analysis presents mixed signals, while valuation suggests moderate investor value. The company's strategic initiatives and capital strength provide a solid foundation for future growth, offset by some operational challenges.

Positive Factors

Earnings Outlook

Stronger-than-expected NIM and a stronger correspondent banking outlook are expected to drive stronger earnings than most peers.

Financial Performance

SSB shares are highlighted as an attractive opportunity given the potential upside in a return to a stronger growth environment and strong profitability.

Valuation

The valuation of SSB shares is seen as compelling, with a projected 27% TBV growth rate.

Negative Factors

Operational Challenges

The footprint extension into Texas and Denver increases the potential operational turbulence.

Operational Risk

The footprint extension into Texas and Denver increases the potential operational turbulence.

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-bearing transaction accounts, certificates of deposits, money market accounts, and other time deposits. The company also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans. In addition, it provides debit card, mobile and funds transfer products, and treasury management services comprising merchant, automated clearing house, lock-box, remote deposit capture, and other treasury services. Further, the company offers safe deposit boxes, bank money orders, wire transfer, brokerage services, and alternative investment products, including annuities, mutual funds, and trust and asset management services; and credit cards, letters of credit, and home equity lines of credit. As of December 31, 2021, it served customers through 281 branches in Florida, South Carolina, Alabama, Georgia, North Carolina, and Virginia. SouthState Corporation also serves its customers through online, mobile, and telephone banking platforms. The company was formerly known as First Financial Holdings, Inc. and changed its name to SouthState Corporation in July 2013. SouthState Corporation was founded in 1933 and is headquartered in Winter Haven, Florida.

How the Company Makes Money

SouthState Corporation primarily generates revenue through interest income from its loan portfolio, which includes personal loans, commercial loans, and mortgages. The company also earns non-interest income from fees and services related to deposit accounts, wealth management, and other financial services. Additionally, SouthState Bank benefits from treasury management services, card services, and trust and investment services, which contribute to its overall earnings. Key revenue streams include net interest income, which is the difference between the interest earned on loans and the interest paid on deposits, and non-interest income derived from service charges and fees. The company's financial performance is influenced by factors such as interest rates, economic conditions, and regulatory changes. Partnerships with financial service providers and technology platforms also play a role in enhancing SouthState's service offerings and revenue potential.

SouthState Corporation Financial Statement Overview

Summary

SouthState Corporation demonstrates strong financial performance with significant revenue growth and robust profit margins. The balance sheet is stable with prudent leverage and effective equity use. Cash flows are efficiently managed despite a slight decrease in operating cash flow, which requires monitoring.

Income Statement

SouthState Corporation's income statement reflects strong financial performance with consistently improving revenue, marked by a 21.6% growth in TTM revenue compared to the previous year. The gross profit margin is robust at 65.9%, indicating efficient management of production costs. The net profit margin remains healthy at 18.9%, supported by a stable EBIT margin of 24.8% and EBITDA margin of 27.6%. However, a slight decline in EBIT from the previous year requires monitoring.

Balance Sheet

The balance sheet is solid with a relatively low debt-to-equity ratio of 0.17, suggesting prudent leverage levels. The equity ratio is strong at 13.2%, indicating a stable financial position. The company also boasts a high return on equity of 5.9%, showcasing effective use of shareholder equity, although this is on a lower side for the banking sector. The substantial increase in stockholders' equity reflects positive growth, yet the total liabilities have also increased, which could imply potential risk if not managed carefully.

Cash Flow

Cash flow analysis reveals strong operational cash generation with a TTM operating cash flow of $108 million, though it has decreased from the previous year. Free cash flow has grown by 83.3%, indicating effective capital management. The operating cash flow to net income ratio is 0.21, reflecting solid cash conversion efficiency. Despite the positive trends, the decrease in operating cash flow compared to prior periods requires attention.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.70B	2.39B	2.19B	1.67B	1.42B	1.21B
Gross Profit	1.78B	1.65B	1.59B	1.53B	1.53B	890.33M
EBITDA	745.86M	756.95M	689.68M	697.95M	667.42M	150.34M
Net Income	508.81M	534.78M	494.31M	496.05M	475.54M	120.63M
Balance Sheet
Total Assets	65.14B	46.38B	44.90B	43.92B	41.84B	37.79B
Cash, Cash Equivalents and Short-Term Investments	6.54B	898.68M	5.55B	6.06B	5.90B	4.36B
Total Debt	1.43B	896.14M	970.78M	938.38M	1.10B	1.16B
Total Liabilities	56.51B	40.49B	39.37B	38.84B	37.04B	33.14B
Stockholders Equity	8.62B	5.89B	5.53B	5.07B	4.80B	4.65B
Cash Flow
Free Cash Flow	64.92M	476.15M	507.87M	1.71B	387.27M	520.01M
Operating Cash Flow	108.04M	511.96M	546.76M	1.73B	415.69M	536.94M
Investing Cash Flow	1.08B	-886.18M	-1.43B	-4.86B	-2.32B	1.23B
Financing Cash Flow	897.24M	767.41M	566.00M	-2.28B	4.02B	2.15B

SouthState Corporation Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 91.90
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 91.9 is above the 20-day moving average (MA) of 88.12, above the 50-day MA of 88.10, and below the 200-day MA of 95.67, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 60.48 is Neutral, neither overbought nor oversold. The STOCH value of 80.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SSB.

SouthState Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SSB	80 Outperform	$9.02B	14.01	7.18%	2.43%	9.38%	3.47%
CFR	78 Outperform	$8.17B	13.89	15.26%	3.16%	5.99%	7.75%
FHN	76 Outperform	$10.32B	14.22	9.09%	2.94%	-0.50%	-1.31%
CBSH	74 Outperform	$8.15B	15.26	16.82%	1.79%	-4.27%	17.70%
WBS	71 Outperform	$8.93B	12.08	8.59%	2.98%	2.69%	-9.07%
GGAL	71 Outperform	$8.39B	5.67	28.17%	2.04%	-35.65%	70.23%
Sector *	64 Neutral	$6.66B	10.77	6.50%	5.07%	24.88%	-1.54%

SouthState Corporation Corporate Events

SouthState Corporation Issues $350M Subordinated Notes

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.

SouthState Corporation’s $350M Subordinated Notes Offering

On June 10, 2025, SouthState Corporation entered into an underwriting agreement with Morgan Stanley & Co. LLC, Piper Sandler & Co., and Keefe, Bruyette & Woods, Inc. to sell $350,000,000 of its 7.000% Fixed-to-Floating Rate Subordinated Notes due 2035. This transaction is part of a registered public offering, indicating a strategic move to raise capital, which may impact the company’s financial positioning and stakeholder interests.

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.

SouthState Corporation Reports Q1 2025 Financial Results

SouthState Corporation reported its first quarter 2025 financial results, highlighting a strategic reset with the acquisition of Independent Bank Group and a securities restructuring that improved its net interest margin to 3.85%. The company declared a quarterly cash dividend of $0.54 per share, payable on May 16, 2025. The quarter saw significant transactions, including a sale leaseback transaction and a securities portfolio restructuring, positioning SouthState with strong capital and asset quality amid industry uncertainties.

SouthState Corporation to Announce Q1 2025 Earnings

SouthState Corporation announced that it will release its first quarter 2025 earnings results on April 24, 2025, after the market closes. A conference call to discuss these results will be held on April 25, 2025, providing stakeholders an opportunity to gain insights into the company’s financial performance and strategic direction.