The upcoming report from SouthState (SSB) is expected to reveal quarterly earnings of $1.43 per share, indicating a decline of 9.5% compared to the year-ago period. Analysts forecast revenues of $604.47 million, representing an increase of 45.5% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific SouthState metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Net Interest Margin (Non-Tax Equivalent)' reaching 3.6%. Compared to the present estimate, the company reported 3.4% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Efficiency Ratio' of 57.0%. The estimate is in contrast to the year-ago figure of 58.5%.
The consensus estimate for 'Total Nonperforming loans' stands at $241.89 million. Compared to the present estimate, the company reported $172.30 million in the same quarter last year.
The consensus among analysts is that 'Average Balance - Total interest-earning assets' will reach $58.46 billion. Compared to the present estimate, the company reported $40.66 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Total Nonperforming Assets' should arrive at $251.43 million. The estimate is in contrast to the year-ago figure of $174.52 million.
The average prediction of analysts places 'Net Interest Income' at $516.19 million. The estimate is in contrast to the year-ago figure of $343.94 million.
Analysts forecast 'Total Noninterest Income' to reach $88.27 million. Compared to the present estimate, the company reported $71.56 million in the same quarter last year.
It is projected by analysts that the 'Net interest income, tax equivalent (Non-GAAP)' will reach $528.97 million. Compared to the current estimate, the company reported $344.46 million in the same quarter of the previous year.
View all Key Company Metrics for SouthState here>>>
SouthState shares have witnessed a change of -8.3% in the past month, in contrast to the Zacks S&P 500 composite's -5.6% move. With a Zacks Rank #3 (Hold), SSB is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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SouthState Corporation (SSB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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