Investors are poised to add SouthState Corporation (SSB) Stock to their long term portfolios

As of right now, SouthState Corporation [SSB] is trading at $87.48, down -0.47%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The SSB shares have gain 3.27% over the last week, with a monthly amount drifted -1.17%, and not seem to be holding up well over a long-time horizon.

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On 24, October 2022, SouthState Corporation Reports Third Quarter 2022 Results, Declares Quarterly Cash Dividend. In a post published today on Yahoo Finance, SouthState Corporation (NASDAQ: SSB) today released its unaudited results of operations and other financial information for the three-month and nine-month periods ended September 30, 2022.

From an analyst’s perspective:

SouthState Corporation [NASDAQ: SSB] stock has seen the most recent analyst activity on September 28, 2022, when Piper Sandler upgraded its rating to a Overweight and also boosted its price target to $96 from $92. Previously, Keefe Bruyette upgraded its rating to Outperform on June 03, 2022, and elevated its price target to $100. On December 16, 2021, upgrade upgraded it’s rating to Outperform but maintained its price target of $90 on the stock. DA Davidson upgraded its rating to a Buy but stick to its price target of $81 on September 21, 2021. Stephens downgraded its rating to a Equal-Weight and reduced its price target to $67 on August 16, 2021. Raymond James downgraded its rating to Mkt Perform for this stock on January 29, 2021. In a note dated November 19, 2020, Keefe Bruyette downgraded an Mkt Perform rating on this stock and boosted its target price from $68 to $72.

Through the last year, SouthState Corporation’s stock price ranged from $72.25 to $93.34. Currently, Wall Street analysts expect the stock to reach $101.14 within the next 12 months. SouthState Corporation [NASDAQ: SSB] shares were valued at $87.48 at the most recent close of the market. An investor can expect a potential return of 15.61% based on the average SSB price forecast.

Analyzing the SSB fundamentals

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 86.98 points at the first support level, and at 86.48 for the second support level. However, for the 1st resistance point, the stock is sitting at 87.89, and for the 2nd resistance point, it is at 88.30.

SouthState Corporation [SSB] reported earnings per share of $1.89 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.83/share, meaning a difference of $0.06 and a surprise factor of 3.30%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $1.57 per share as compared to estimates of $1.54 per share, a difference of $0.03 representing a surprise of 1.90%.

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 10 insider buyings of 9,584 shares and 8 insider sellings of 45,027 shares. Recent insider trading involved HORGER ROBERT R, Director, that happened on Nov 07 when 3254.0 shares were sold. Director, HORGER ROBERT R completed a deal on Nov 01 to sell 2167.0 shares. Meanwhile, Director HORGER ROBERT R sold 3630.0 shares on Oct 31.