Upside case
Bull case
$236+138.8%
SSB would need investors to value it at roughly 25x earnings — about 14x more generous than today's 10x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated May 1, 2026
SouthState Corporation (SSB) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
20
analysts
14 bullish · 0 bearish · 20 covering SSB
Strong Buy
1
Buy
13
Hold
6
Sell
0
Strong Sell
0
Consensus Target
$118
+19.8% vs today
Scenario Range
$38 – $236
Model bear to bull value window
Coverage
20
Published analyst ratings
Valuation Context
10.4x
Forward P/E · Market cap $9.9B
SSB price targets
Three scenarios for where SSB stock could go
Current
~$99
Confidence
62 / 100
Updated
May 1, 2026
Where we are now
Current · $99
Bear
$38
Base
$185
Bull
$236
Market caseClosest to today
Base case
$185+87.5%
At 20x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$38-61.3%
If investor confidence fades or macro conditions deteriorate, a 6x multiple contraction could push SSB down roughly 61% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
SouthState Corporation
SSB · NASDAQFinancial ServicesBanks - RegionalDecember year-end
SouthState Corporation is a regional bank holding company operating primarily in the Southeastern United States. It makes money primarily through net interest income from loans — including commercial real estate, residential mortgages, and commercial/industrial lending — supplemented by fee-based services like treasury management, wealth management, and deposit account fees. Its competitive advantage lies in its deep regional presence across six Southeastern states, which provides local market expertise and relationship banking that larger national banks cannot easily replicate.
Market Cap
$9.9B
Net Income TTM
$799M
SSB Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
83%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+11.6%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$2.30/$2.00
Revenue
$665M/$654M
Q4 2025
EPS
$2.58/$2.11
Revenue
$699M/$664M
Q1 2026
EPS
$2.47/$2.30
Revenue
$687M/$668M
Q2 2026
EPS
$2.28/$2.21
Revenue
$662M/$669M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $2.30/$2.00 | +15.0% | $665M/$654M | +1.6% |
| Q4 2025 | $2.58/$2.11 | +22.3% | $699M/$664M | +5.3% |
| Q1 2026 | $2.47/$2.30 | +7.4% | $687M/$668M | +2.9% |
| Q2 2026 | $2.28/$2.21 | +3.2% | $662M/$669M | -1.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$4.7B
+24.3% YoY
FY2
$7.0B
+49.5% YoY
EPS Outlook
FY1
$11.24
+41.6% YoY
FY2
$14.74
+31.1% YoY
Trailing FCF (TTM)$154M
Next Earnings
—
Expected EPS
—
Expected Revenue
—
SSB beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
SSB Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $273M
Product Mix
Latest annual revenue by segment or product family
Deposit account services
60.9%
+16.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Deposit account services is the largest disclosed segment at 60.9% of FY 2025 revenue, up 16.9% YoY.
SSB Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly Undervalued
Fair value est. $109 — implies +11.5% from today's price.
Upside to Fair Value
11.5%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
SSB
12.6x
vs
S&P 500
25.2x
50% discount
vs Financial Services Trailing P/E
SSB
12.6x
vs
Financial Services
13.4x
6% discount
vs SSB 5Y Avg P/E
Today
12.6x
vs
5Y Average
12.6x
In line with benchmark
Forward PE
10.4x
S&P 500
19.1x
-45%
Financial Services
10.5x
-1%
5Y Avg
—
—
Trailing PE
12.6x
S&P 500
25.2x
-50%
Financial Services
13.4x
-6%
5Y Avg
12.6x
-0%
PEG Ratio
0.43x
S&P 500
1.75x
-75%
Financial Services
1.03x
-58%
5Y Avg
—
—
EV/EBITDA
9.1x
S&P 500
15.3x
-40%
Financial Services
11.4x
-20%
5Y Avg
9.2x
-2%
Price/FCF
—
S&P 500
21.3x
—
Financial Services
10.6x
—
5Y Avg
11.7x
—
Price/Sales
2.6x
S&P 500
3.1x
-16%
Financial Services
2.3x
+17%
5Y Avg
3.2x
-18%
Dividend Yield
2.33%
S&P 500
1.88%
+24%
Financial Services
2.68%
-13%
5Y Avg
2.39%
-2%
| Metric | SSB | S&P 500 | Financial Services | 5Y Avg SSB |
|---|---|---|---|---|
| Forward PE | 10.4x | 19.1x-45% | 10.5x | — |
| Trailing PE | 12.6x | 25.2x-50% | 13.4x | 12.6x |
| PEG Ratio | 0.43x | 1.75x-75% | 1.03x-58% | — |
| EV/EBITDA | 9.1x | 15.3x-40% | 11.4x-20% | 9.2x |
| Price/FCF | — | 21.3x | 10.6x | 11.7x |
| Price/Sales | 2.6x | 3.1x-16% | 2.3x+17% | 3.2x-18% |
| Dividend Yield | 2.33% | 1.88% | 2.68% | 2.39% |
SSB trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolSSB Financial Health
Verdict
Stressed
SSB generates 9.0% ROE and 1.2% return on assets — the two primary signals for banking profitability. FCF-based metrics are not applicable to financial companies.
Earnings Engine
Revenue, profitability, and return on capital
Revenue (TTM)
Trailing-twelve-month sales base
—
Revenue Growth
TTM vs prior year
—
Operating Margin
Operating income divided by revenue
—
Net Margin
Net income divided by revenue
—
EPS (TTM)
Diluted earnings per share, trailing twelve months
$7.94
ROE
Return on equity — the primary profitability signal for banks
9.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
9.2%
ROA
Return on assets, trailing twelve months
1.2%
Cash & Equivalents
Liquid assets on the balance sheet
$583M
Net Debt
Total debt minus cash
$731M
FCF Analysis
Traditional FCF and debt/FCF ratios are not meaningful for financial companies. Focus on ROE and ROA above.
ROE
Return on equity — the headline bank profitability metric
9.0%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
4.7%
Dividend
2.3%
Buyback
2.4%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$236M
Dividend / Share
Annualized trailing dividend per share
$2.30
Payout Ratio
Share of earnings distributed as dividends
29.0%
Shares Outstanding
Declining as buybacks retire shares
101M
All figures from the trailing twelve months. For financial companies, ROE and ROA are the primary health signals — FCF-based metrics are not applicable.
Open full ratios pageSSB Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Net Interest Margin Pressure
SouthState Bank's core net interest margin has declined, missing forecasts due to lower earnings power and increased competition affecting loan pricing. The bank has also reduced its NIM guidance for 2026, influenced by heightened deposit competition and the removal of anticipated Federal Reserve rate cuts.
High Risk
Macroeconomic Challenges
Potential economic deterioration in key markets poses significant risks to SouthState Bank's profitability. Concerns over credit quality, geopolitical risks, yield curve uncertainty, and the possibility of stagflation could lead to increased stock price volatility.
Medium
Deposit Cost Increases
Increased competition has driven up deposit costs, with new money market rates rising significantly. This creates uncertainty around future funding costs, which could impact the bank's financial performance.
Medium
Credit Quality Concerns
While credit quality has generally remained favorable, there have been instances of mixed credit quality, including a notable commercial loan loss. This could affect the bank's overall risk profile and profitability.
Medium
Capital Flexibility
The first-quarter payout ratio was higher than expected, which could constrain SouthState Bank's future capital flexibility. This may limit the bank's ability to invest in growth opportunities or return capital to shareholders.
Lower
Slower Hiring Pace
To ensure proper assimilation in expansion markets like Texas and Colorado, SouthState Bank may slow its hiring pace. This could moderate near-term growth initiatives and impact the bank's expansion strategy.
Lower
Valuation and Upside Potential
Despite a 'Strong Buy' consensus among analysts, some analyses suggest limited upside potential for SouthState Bank's stock. One report indicates only an 8% potential return based on fair value, suggesting the stock may be trading at a slight premium to its justified tangible book value.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why SSB Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Strong Analyst Ratings
A significant majority of analysts have a 'Strong Buy' or 'Buy' rating for SSB stock, indicating strong market confidence. Recent price target increases from analysts further reflect this positive sentiment.
Robust Financial Performance
SSB has demonstrated strong loan production, particularly in key markets like Texas and Colorado, contributing to consistent earnings per share (EPS) growth. The company's Q1 2026 earnings exceeded EPS expectations, driven by higher net interest income and lower expenses.
Strategic Growth Initiatives
The company is focused on expanding its commercial team and has outlined a net interest margin (NIM) range for 2026. Management's confidence is evident through share repurchases and dividend increases, signaling a commitment to returning value to shareholders.
Improving Capital Ratios
SSB has seen improvements in its capital ratios and profitability metrics, such as return on average assets and return on average common equity. These enhancements position the company favorably for future growth and stability.
Positive Technical Momentum
Technical analysis indicates positive short-term momentum, with the stock trading above key moving averages. This trend suggests strong investor interest and potential for continued upward movement.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
SSB Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$98.65
52W Range Position
59%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$84.48
+16.8% from the low
52-Week High
$108.46
-9.0% from the high
1 Month
+4.78%
3 Month
-8.50%
YTD
+4.7%
1 Year
+11.9%
3Y CAGR
+15.5%
5Y CAGR
+2.1%
10Y CAGR
+3.7%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
SSB vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
10.4x
vs 10.8x median
-3% below peer median
Revenue Growth
+24.3%
vs -1.5% median
+1749% above peer median
Net Margin
—
vs — median
Peer median unavailable
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
SSB SSB SouthState Corporation | $9.9B | 10.4x | +24.3% | — | Buy | +19.8% |
HBA HBAN Huntington Bancshares Incorporated | $26.3B | 11.4x | -1.5% | — | Buy | +22.5% |
CFG CFG Citizens Financial Group, Inc. | $28.3B | 12.7x | -9.7% | — | Buy | +10.4% |
UMB UMBF UMB Financial Corporation | $10.2B | 10.5x | +21.2% | — | Buy | +12.3% |
IBO IBOC International Bancshares Corporation | $4.5B | 10.8x | +3.1% | — | Buy | +17.1% |
SFN SFNC Simmons First National Corporation | $3.1B | 10.5x | -14.9% | — | Buy | +5.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
SSB Dividend and Capital Return
SSB returns 4.7% annually — 2.33% through dividends and 2.4% through buybacks.
Dividend SustainableFCF Stretched
Total Shareholder Yield
4.7%
Dividend + buyback return per year
Buyback Yield
2.4%
Dividend Yield
2.33%
Payout Ratio
29.0%
How SSB Splits Its Return
Div 2.33%
Buyback 2.4%
Dividend 2.33%Buybacks 2.4%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.30
Growth Streak
Consecutive years of dividend increases
16Y
3Y Div CAGR
4.8%
5Y Div CAGR
3.9%
Ex-Dividend Date
—
Payment Cadence
Semi-Annual
5 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$236M
Estimated Shares Retired
2M
Approx. Share Reduction
2.4%
Shares Outstanding
Current diluted share count from the screening snapshot
101M
At 2.4%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.20 | — | — | — |
| 2025 | $2.28 | +7.5% | 2.5% | 4.9% |
| 2024 | $2.12 | +3.9% | 0.2% | 2.4% |
| 2023 | $2.04 | +3.0% | 0.2% | 2.7% |
| 2022 | $1.98 | +3.1% | 2.1% | 4.6% |
FAQ
7 questionsSSB Investor Questions
Common questions answered from live analyst data and company financials.
01Is SouthState Corporation (SSB) stock a buy or sell in 2026?
SouthState Corporation (SSB) is rated Buy by Wall Street analysts as of 2026. Of 20 analysts covering the stock, 14 rate it Buy or Strong Buy, 6 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $118, implying +19.8% from the current price of $99. The bear case scenario is $38 and the bull case is $236.
02What is the SSB stock price target for 2026?
The Wall Street consensus price target for SSB is $118 based on 20 analyst estimates. The high-end target is $123 (+24.7% from today), and the low-end target is $108 (+9.5%). The base case model target is $185.
03Is SouthState Corporation (SSB) stock overvalued in 2026?
SSB trades at 10.4x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals slightly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for SouthState Corporation (SSB) stock in 2026?
The primary risks for SSB in 2026 are: (1) Net Interest Margin Pressure — SouthState Bank's core net interest margin has declined, missing forecasts due to lower earnings power and increased competition affecting loan pricing. (2) Macroeconomic Challenges — Potential economic deterioration in key markets poses significant risks to SouthState Bank's profitability. (3) Deposit Cost Increases — Increased competition has driven up deposit costs, with new money market rates rising significantly. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is SouthState Corporation's revenue and earnings forecast?
Analyst consensus estimates SSB will report consensus revenue of $4.7B (+24.3% year-over-year) and EPS of $11.24 (+41.6% year-over-year) for the upcoming fiscal year. The following year, analysts project $7.0B in revenue.
06When does SouthState Corporation (SSB) report its next earnings?
A confirmed upcoming earnings date for SSB is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does SouthState Corporation generate?
SouthState Corporation (SSB) generated $154M in free cash flow over the trailing twelve months. SSB returns capital to shareholders through dividends (2.3% yield) and share repurchases ($236M TTM).