SouthState reported Q2 EPS of $2.35 vs $2.30, with revenue $673.0M missing $676.9M. The dividend hike to 66c per share signals stronger capital returns, potentially supporting the stock. Analysts raised price targets post-earnings, suggesting a near-term upside if net interest income holds up.
SouthState reported Q2 earnings of $1.79, surpassing estimates by 16.99%. Revenue for the quarter was $425.48 million, beating expectations by 1.49%. The company's stock has gained 10.5% YTD, underperforming the S&P 500's 16.5%. Current Zacks Rank for SouthState is #3 (Hold), suggesting market performance. Consensus estimates for next quarter are $1.59 EPS on $429.45 million revenue.
- SouthState reported $415.49 million in revenue for Q1 2024, an 8.2% YoY decline. - EPS for the same period was $1.58, down from $1.93 a year ago. - Key metrics like Efficiency Ratio and Net Interest Margin slightly missed analyst estimates. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings
Summary: - SouthState reported earnings of $1.58 per share, beating estimates of $1.55 per share. - Revenues for SouthState were $415.49 million, missing estimates slightly by 0.31%. - The stock has lost 5.1% since the beginning of the year. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings