SouthState Closes Merger with Independent Financial
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Merger Announcement: SouthState Corporation has successfully completed its acquisition of Independent Bank Group, expanding its presence in Texas and entering Colorado, with the combined asset size reaching approximately $65 billion.
Board Expansion: Following the merger, three directors from Independent Financial have been appointed to SouthState's board, increasing the total number of board members from 12 to 15.
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 116.90 USD with a low forecast of 108.00 USD and a high forecast of 125.00 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.
10 Analyst Rating
10 Buy
0 Hold
0 Sell
Strong Buy
Current: 98.990
Low
108.00
Averages
116.90
High
125.00
Current: 98.990
Low
108.00
Averages
116.90
High
125.00
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.
