South State Bank Q4 Non-GAAP EPS of $2.47 Beats Estimates with 52.1% Revenue Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Earnings Beat: South State Bank reported a Q4 Non-GAAP EPS of $2.47, exceeding estimates by $0.19, indicating robust profitability and operational efficiency.
- Significant Revenue Growth: The bank's revenue reached $686 million in Q4, reflecting a 52.1% year-over-year increase, surpassing expectations by $18.29 million, showcasing strong market performance and heightened customer demand.
- Cautious Future Outlook: Despite the impressive results, analysts express caution regarding the bank's Q1 2025 earnings forecast, which may impact investor confidence moving forward.
- Rating Downgrade: South State's rating has been downgraded, highlighting concerns over the sustainability of its current growth trajectory, which could lead to stock price volatility.
Analyst Views on SSB
Wall Street analysts forecast SSB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SSB is 115.64 USD with a low forecast of 109.00 USD and a high forecast of 122.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 100.570
Low
109.00
Averages
115.64
High
122.00
Current: 100.570
Low
109.00
Averages
115.64
High
122.00
About SSB
SouthState Bank Corporation is a financial services company. SouthState Bank, N.A. (the Bank), the Company’s nationally chartered bank subsidiary, provides consumer, commercial, mortgage and wealth management solutions throughout Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia and Tennessee. The Bank also serves clients nationwide through its correspondent banking division. The Bank’s solutions include personal, mortgage, small business, commercial and wealth. The Bank’s personal solutions include banking, borrowing, investing, and opening accounts. The Bank’s mortgage solutions include mortgage loans, refinancing, and HomeBuying 101. The Bank’s small business solutions include banking, borrowing, managing cash flow, and small business resources. Its commercial solutions include banking, financing, capital markets, employee services, international services and institutional asset management. Its wealth solutions include investment services and private wealth.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
