Wall Street analysts expect SouthState (SSB) to post quarterly earnings of $2.33 per share in its upcoming report, which indicates a year-over-year increase of 1.3%. Revenues are expected to be $677.15 million, up 1.9% from the year-ago quarter.
The current level reflects an upward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some SouthState metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Efficiency Ratio' will reach 52.5%. Compared to the present estimate, the company reported 52.8% 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 current estimate, the company reported 4.0% in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Average Balance - Total interest-earning assets' of $61.42 billion. Compared to the present estimate, the company reported $57.71 billion in the same quarter last year.
Analysts forecast 'Total nonperforming assets' to reach $320.33 million. Compared to the current estimate, the company reported $323.84 million in the same quarter of the previous year.
The consensus estimate for 'Total nonperforming loans (non-acquired & acquired)' stands at $286.10 million. Compared to the current estimate, the company reported $297.80 million in the same quarter of the previous year.
Analysts expect 'Net Interest Income' to come in at $575.87 million. The estimate is in contrast to the year-ago figure of $577.95 million.
The consensus among analysts is that 'Total Noninterest Income' will reach $101.25 million. The estimate is in contrast to the year-ago figure of $86.82 million.
The combined assessment of analysts suggests that 'Net interest income, tax equivalent (Non-GAAP)' will likely reach $576.45 million. The estimate compares to the year-ago value of $578.62 million.
The average prediction of analysts places 'Trust and investment services income' at $14.56 million. Compared to the current estimate, the company reported $14.42 million in the same quarter of the previous year.
According to the collective judgment of analysts, 'Fees on deposit accounts' should come in at $40.98 million. The estimate compares to the year-ago value of $37.87 million.
Based on the collective assessment of analysts, 'Mortgage banking income' should arrive at $9.37 million. The estimate compares to the year-ago value of $5.94 million.
Analysts' assessment points toward 'Total correspondent banking and capital market income' reaching $21.11 million. The estimate is in contrast to the year-ago figure of $13.77 million.
View all Key Company Metrics for SouthState here>>>Over the past month, shares of SouthState have returned +3.5% versus the Zacks S&P 500 composite's +0.3% change. Currently, SSB carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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