SouthState Bank Corp (NYSE:SSB) is one of the top bank stocks to buy now according to analysts. Wall Street has a consensus Strong Buy rating on SouthState Bank stock and a price target that suggests a 18% upside potential.
SouthState Bank Corp (SSB) Stock Price Target Updated At JPMorgan
On July 1, JPMorgan raised its price target on SouthState Bank Corp (NYSE:SSB) shares to $120 from $115 while keeping an Overweight rating on the stock. The brokerage upgraded the bank’s price target as part of its model adjustment in the small and mid-cap bank group ahead of Q2 earnings.
According to JPMorgan, fundamental trends for Q2 will show loan and deposit growth in the mid-single digit range. The brokerage also expects credit trends to remain stable. SouthState Bank is due to report its Q2 results on July 23. The bank opened the year with solid momentum, delivering Q1 results that showed a 162% YoY increase in EPS, 3% jump in net interest income, and a 7% increase in loans. On the back of the strong Q1 results, the board declared a quarterly cash dividend of $0.60.
SouthState Bank Corp (NYSE:SSB) is a regional bank company that operates in Florida, Texas, the Carolinas, Georgia, Colorado, Alabama, Virginia, and Tennessee. It also serves clients nationwide through its correspondent banking division. SouthState Bank offers consumer and commercial banking services along with wealth management and other solutions.
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