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SouthState Corporation (SSB)
NYSE:SSB
Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.31Last Year’s EPS
1.5Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2018
|% Change Since: 7.10%
|Next Earnings Date:Jul 30, 2018
Earnings Call Sentiment|Positive
The earnings call presented a largely positive outlook for SouthState with strong deposit growth, successful strategic transactions, and improved net interest margin. However, challenges remain with increased non-performing assets and higher noninterest expenses.Company Guidance
During SouthState's Fourth Quarter 2024 earnings call, the company provided comprehensive guidance on various financial metrics, reflecting a robust performance and strategic maneuvers. Customer deposits grew by 9% on an annualized basis, excluding brokered CDs, contributing to a 9% increase in pre-provision net revenue (PPNR) driven by a 6% rise in total revenue. The net interest margin (NIM) improved by 8 basis points to 3.48%, aided by a 15 basis point reduction in the cost of total deposits. Noninterest income rose to $80 million, marking a $6 million increase from the prior quarter, predominantly due to gains in correspondent banking, mortgage, and wealth management services. The efficiency ratio improved by 140 basis points to 54.4%, despite a $7 million rise in noninterest expenses. On the credit front, net charge-offs remained low at 6 basis points annualized for the quarter, with a total allowance to loans exceeding 1.5%. Additionally, the company highlighted its strategic initiatives, including a sale-leaseback transaction worth approximately $225 million and the regulatory approval and closing of the Independent Financial acquisition, which is expected to contribute to future growth.Deposit Growth and Liquidity Improvement
Deposit growth across all regions, with customer deposits growing by 9% annualized, excluding brokered CDs. Liquidity is improving and deposit pricing is becoming more rational.
Successful Completion of Sale-Leaseback Transaction
Completed a sale-leaseback transaction on approximately 170 branches, harvesting $225 million of off-balance sheet capital with attractive cost of capital.
Regulatory Approval and Closing of Independent Financial Acquisition
Received regulatory approval for the acquisition of Independent Financial, closing earlier than expected on January 1, with conversion scheduled for Memorial Day.
Increase in Net Interest Margin (NIM)
NIM improved by 8 basis points to 3.48%. Deposit cost reduction and legacy loan repricing contributed to this improvement.
Strong Credit Performance
Net charge-offs were low at 6 basis points for the quarter. Past dues and nonperforming assets remained well-managed, with healthy reserve levels.
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SSB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SSB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $98.59 | $103.67 | +5.15% |
| Oct 23, 2024 | $96.16 | $97.57 | +1.47% |
| Jul 24, 2024 | $90.70 | $96.22 | +6.09% |
| Apr 25, 2024 | $77.59 | $76.59 | -1.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SouthState Corporation (SSB) report earnings?
SouthState Corporation (SSB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is SouthState Corporation (SSB) earnings time?
SouthState Corporation (SSB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SSB EPS forecast?
SSB EPS forecast for the fiscal quarter 2025 (Q1) is 0.31.
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