SouthState Bank Corporation (NYSE:
SSB) is
one of the best affordable long term stocks to buy according to hedge funds. On January 26, Stephens analyst Russell Gunther maintained an Overweight rating on SouthState Bank Corporation (NYSE:SSB) and raised the price target to $120 from $110. The analyst cited SouthState’s core pre-provision net revenue (PPNR) of $323.5 million, noting it “exceeded consensus estimates by 1.5%, or $0.03 per share.” Gunther said this PPNR performance came on the back of stronger net interest income and correspondent banking/capital markets fees. But this effect was partially offset by higher expenses.
The analyst also noted that SouthState’s net interest income grew 2.7% quarter over quarter, excluding purchase accounting adjustments. And that the bank’s core net interest margin increased two basis points sequentially to 3.86%. This growth, Gunther said, was above consensus estimates. As a result, Gunther raised his 2026 PPNR estimate for SouthState by 1.5%. He noted the bank’s differentiated fee income momentum as a contributing consideration.
Separately, on January 23, Raymond James raised its price target on SouthState shares to $120 from $115 and maintained a Strong Buy rating. The move was a reaction to SouthState’s December-ending quarter results.
Raymond James said these results were well ahead of its expectations as well as consensus estimates on core earnings per share and pre-provision revenue basis. The firm noted the bank’s performance reflects 39.42% revenue growth over the past twelve months.
SouthState Bank Corporation (NYSE:SSB) is a regional financial services company headquartered in Florida, and operates through its subsidiary SouthState Bank, N.A. The bank provides consumer, commercial, mortgage, and wealth management solutions to over 1.5 million customers across the Southeast and beyond.
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Disclosure: None. This article is originally published at
Insider Monkey.
