SouthState Corporation (SSB) AI Stock Analysis

• Market Cap: $9.79B
• Dividend Yield: 2.38%
• Average Volume (3M): 830.10K
• Price to Earnings (P/E): 12.7
• Beta (1Y): 0.95
• Revenue Growth: 33.87%
• EPS Growth: 12.26%
• Country: US
• Employees: 6,405
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 2.46
• Shares Outstanding: 98,068,650
• 10 Day Avg. Volume: 741,312
• 30 Day Avg. Volume: 830,099
• PEG Ratio: 0.91
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 2.51
• P/FCF Ratio: -17.37
• Enterprise Value/Market Cap: 1.13
• Enterprise Value/Revenue: 2.94
• Enterprise Value/Gross Profit: 4.30
• Enterprise Value/Ebitda: 9.42
• 1Y Price Target: $121.11
• Price Target Upside: 16.76% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): 9.48
• Revenue Forecast (FY): $2.78B

• Rating: 75 Outperform
• Price Target: $117.00 ▲(12.79% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 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 and strong capital

Low leverage, growing equity and CET1 of 11.4% provide durable loss-absorbing capacity and financial flexibility. This supports continued lending, opportunistic M&A integration, and shareholder returns while insulating the bank against cyclic credit stress and regulatory pressure over the medium term.

Consistent revenue and solid profitability

Sustained top-line expansion with a ~21% net margin indicates the franchise can scale earnings across interest and noninterest sources. Even with margin normalization from earlier peaks, steady revenue growth underpins PPNR and provides a structural base for dividends, reinvestment, and capital accumulation.

Loan production momentum and growing pipeline

High production and a larger multi-region pipeline signal durable organic growth capacity. Broad loan origination and deposit gathering support future net interest income, diversify regional exposure (TX/CO growth), and sustain asset growth even if new loan yields normalize over time.

Negative Factors

Volatile operating cash flow

Material decline and volatility in operating cash flow reduces the firm’s ability to self-fund investments, dividends and repurchases without tapping capital markets. Persistent cash generation weakness would constrain flexibility and increase reliance on accrual earnings and capital actions during downturns.

Accretion decline and loan-yield pressure

Diminishing accretion from recent acquisitions and quarter-to-quarter loan-yield compression are structural drags on NII. As accretion runs off and deposit beta rises, sustaining prior margin levels becomes harder, pressuring long-term earnings unless offset by higher core loan growth or fee income.

Very high near-term payout ratio

A near-100% payout rate is not durable for a growing bank and risks depleting capital cushions if earnings or cash flow weaken. Management’s pledge to normalize helps, but elevated distributions reduce retained earnings and limit flexibility for lending growth or absorbing credit volatility.

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 generates revenue primarily through interest income and non-interest income. The main revenue stream comes from the interest earned on loans and securities, with the bank providing various types of loans, including commercial, residential, and consumer loans. Additionally, the company earns non-interest income through service fees, mortgage origination fees, wealth management fees, and transaction-based services. Significant partnerships with local businesses and community organizations enhance customer acquisition and retention, contributing to its earnings. Furthermore, the bank's focus on expanding its footprint in the Southeast through strategic acquisitions and organic growth supports its overall financial performance.

SouthState Corporation Financial Statement Overview

Summary

Income statement and balance sheet are solid (revenue up ~11% YoY to $3.76B in 2025, net margin ~21%, improving leverage with debt-to-equity ~0.15 and steady ROE ~8.8%–9.8%). The main drag is cash-flow volatility and a sharp step-down in operating/free cash flow in 2025, reducing flexibility despite solid earnings.

Income Statement

Revenue has expanded meaningfully over the period, reaching $3.76B in 2025 (up ~11% year over year), and profitability remains solid with a ~21% net margin in 2025. That said, profitability has cooled versus the 2021–2022 peak (net margin down from ~34% in 2021 and ~30% in 2022), indicating some margin pressure even as revenue scales.

Balance Sheet

Leverage appears conservative for the period shown, with debt-to-equity improving to ~0.15 in 2024–2025 (down from ~0.25 in 2020), while equity has grown to $9.06B in 2025 alongside higher total assets. Returns on equity are steady around ~8.8%–9.8% in recent years, which is respectable but not accelerating despite the larger balance sheet.

Cash Flow

Cash generation is the main soft spot: operating cash flow declined to $301M in 2025 from $512M in 2024 and was far below the $1.73B level seen in 2022, showing notable volatility. Free cash flow also fell ~27% in 2025, and cash flow relative to the asset base is low in the latest year, which reduces flexibility even though free cash flow roughly matches reported earnings in 2025.

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

• Technical Analysis Sentiment: Positive
• Last Price: 103.73
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 103.73 is above the 20-day moving average (MA) of 103.60, above the 50-day MA of 99.50, and above the 200-day MA of 94.26, indicating a neutral trend. The MACD of 0.83 indicates Positive momentum. The RSI at 51.60 is Neutral, neither overbought nor oversold. The STOCH value of 21.53 is Neutral, 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
WBS	78 Outperform	$11.68B	12.27	10.81%	2.49%	4.78%	21.68%
SSB	75 Outperform	$9.79B	12.69	10.68%	2.38%	33.87%	12.26%
WTFC	74 Outperform	$9.97B	13.06	12.11%	1.40%	3.58%	13.93%
FHN	70 Outperform	$11.70B	12.90	11.12%	2.44%	-4.51%	20.78%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
UMBF	65 Neutral	$9.08B	12.88	12.59%	1.37%	38.81%	10.38%
WAL	65 Neutral	$9.69B	10.10	13.50%	1.80%	6.30%	25.28%

SouthState Corporation Corporate Events

SouthState Corporation Reports Strong Q4 Results, Boosts Shareholder Returns

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% year over year to $2.46 (adjusted $2.47), net income reached $247.7 million, and returns on average assets and tangible common equity were 1.47% and 19.1%, respectively. Loans and deposits each grew at an 8% annualized rate in the quarter, while tangible book value per share increased 10% from a year earlier despite a higher dividend and repurchase of 2.4% of outstanding shares. Net interest income slipped 3% from the prior quarter to $581 million amid a modest decline in loan yields, but noninterest income improved, credit costs remained low with net charge-offs at 0.09% of average loans, and capital ratios stayed strong. Reflecting confidence in its performance and capital strength, the board on January 21, 2026 authorized a new stock repurchase plan for up to 5.56 million shares, replacing a prior, smaller authorization, and declared a first-quarter 2026 cash dividend of $0.60 per share, payable February 13, 2026 to shareholders of record on February 6, 2026, further signaling ongoing commitment to shareholder returns.

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 Schedules Fourth Quarter 2025 Earnings Release

On January 5, 2026, SouthState Bank Corporation announced that it would release its fourth quarter 2025 earnings results after the market close on Thursday, January 22, 2026, with the report to be made available on the company’s investor relations website. The bank also scheduled a conference call and live webcast for Friday, January 23, 2026, at 9:00 a.m. ET, to discuss the quarterly results, with an audio replay to be posted later that day, underscoring its efforts to provide transparency and accessibility to investors and analysts ahead of a key financial reporting date.

The most recent analyst rating on (SSB) stock is a Buy with a $122.00 price target. To see the full list of analyst forecasts on SouthState Corporation stock, see the SSB Stock Forecast page.