Wall Street analysts expect SouthState (SSB) to post quarterly earnings of $2.22 per share in its upcoming report, which indicates a year-over-year increase of 3.3%. Revenues are expected to be $674.57 million, up 7% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.9% 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some SouthState metrics that Wall Street analysts commonly model and monitor.
Analysts' assessment points toward 'Efficiency Ratio' reaching 53.0%. Compared to the present estimate, the company reported 61.0% in the same quarter last year.
It is projected by analysts that the 'Net Interest Margin (Non-Tax Equivalent)' will reach 3.8%. Compared to the present estimate, the company reported 3.8% in the same quarter last year.
Analysts forecast 'Average Balance - Total interest-earning assets' to reach $60.46 billion. The estimate compares to the year-ago value of $57.50 billion.
The consensus estimate for 'Total nonperforming assets' stands at $309.16 million. The estimate compares to the year-ago value of $280.44 million.
According to the collective judgment of analysts, 'Total nonperforming loans (non-acquired & acquired)' should come in at $303.90 million. The estimate compares to the year-ago value of $272.17 million.
Based on the collective assessment of analysts, 'Net Interest Income' should arrive at $573.29 million. Compared to the present estimate, the company reported $544.55 million in the same quarter last year.
The average prediction of analysts places 'Total Noninterest Income' at $101.29 million. Compared to the current estimate, the company reported $86.09 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Net interest income, tax equivalent (Non-GAAP)' of $571.85 million. Compared to the current estimate, the company reported $545.33 million in the same quarter of the previous year.
The consensus among analysts is that 'Trust and investment services income' will reach $14.96 million. Compared to the present estimate, the company reported $14.93 million in the same quarter last year.
The combined assessment of analysts suggests that 'Fees on deposit accounts' will likely reach $43.00 million. The estimate compares to the year-ago value of $35.93 million.
Analysts predict that the 'Mortgage banking income' will reach $5.26 million. Compared to the current estimate, the company reported $7.74 million in the same quarter of the previous year.
Analysts expect 'Total correspondent banking and capital market income' to come in at $22.12 million. Compared to the present estimate, the company reported $9.55 million in the same quarter last year.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have experienced a change of +10.5% in the past month compared to the +9.3% move of the Zacks S&P 500 composite. 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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This article originally published on Zacks Investment Research (zacks.com).