The upcoming report from SouthState (SSB) is expected to reveal quarterly earnings of $2.39 per share, indicating a decline of 7.4% compared to the year-ago period. Analysts forecast revenues of $690.84 million, representing a decline of 1.1% year over year.
The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific SouthState metrics that are commonly monitored and projected by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Net Interest Margin (Non-Tax Equivalent)' of 3.8%. The estimate is in contrast to the year-ago figure of 4.1%.
Analysts forecast 'Efficiency Ratio' to reach 52.0%. The estimate is in contrast to the year-ago figure of 49.9%.
It is projected by analysts that the 'Average Balance - Total interest-earning assets' will reach $62.09 billion. Compared to the current estimate, the company reported $58.73 billion in the same quarter of the previous year.
The average prediction of analysts places 'Total nonperforming assets' at $272.34 million. The estimate compares to the year-ago value of $320.81 million.
Analysts predict that the 'Total nonperforming loans (non-acquired & acquired)' will reach $256.46 million. Compared to the current estimate, the company reported $301.69 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Net interest income, tax equivalent (Non-GAAP)' should come in at $590.78 million. Compared to the current estimate, the company reported $600.42 million in the same quarter of the previous year.
The consensus estimate for 'Total Noninterest Income' stands at $100.70 million. The estimate compares to the year-ago value of $99.09 million.
The combined assessment of analysts suggests that 'Total correspondent banking and capital market income' will likely reach $22.02 million. Compared to the present estimate, the company reported $21.20 million in the same quarter last year.
The consensus among analysts is that 'Trust and investment services income' will reach $15.14 million. Compared to the present estimate, the company reported $14.16 million in the same quarter last year.
Based on the collective assessment of analysts, 'Fees on deposit accounts' should arrive at $42.86 million. Compared to the present estimate, the company reported $42.57 million in the same quarter last year.
Analysts expect 'Net Interest Income' to come in at $590.09 million. The estimate is in contrast to the year-ago figure of $599.70 million.
Analysts' assessment points toward 'Mortgage banking income' reaching $5.80 million. The estimate is in contrast to the year-ago figure of $5.46 million.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have demonstrated returns of -1.9% over the past month compared to the Zacks S&P 500 composite's +0.7% change. With a Zacks Rank #3 (Hold), SSB is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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SouthState Bank Corporation (SSB): Free Stock Analysis Report
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