South State Corporation operates as the bank holding company for South State Bank that provides a range of banking services and products. More Details
Flawless balance sheet established dividend payer.
Share Price & News
How has South State's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SSB is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: SSB's weekly volatility (5%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: SSB underperformed the US Banks industry which returned 56.9% over the past year.
Return vs Market: SSB underperformed the US Market which returned 56.3% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is South State's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StDid You Miss South State's (NASDAQ:SSB) 47% Share Price Gain?
1 month ago | Simply Wall StHave Insiders Sold South State Corporation (NASDAQ:SSB) Shares Recently?
2 months ago | Simply Wall StDon't Race Out To Buy South State Corporation (NASDAQ:SSB) Just Because It's Going Ex-Dividend
Is South State undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SSB ($79.86) is trading below our estimate of fair value ($102.17)
Significantly Below Fair Value: SSB is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SSB is poor value based on its PE Ratio (36.2x) compared to the US Banks industry average (13.3x).
PE vs Market: SSB is poor value based on its PE Ratio (36.2x) compared to the US market (22.3x).
Price to Earnings Growth Ratio
PEG Ratio: SSB is good value based on its PEG Ratio (0.9x)
Price to Book Ratio
PB vs Industry: SSB is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.1x).
How is South State forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SSB's forecast earnings growth (39% per year) is above the savings rate (2%).
Earnings vs Market: SSB's earnings (39% per year) are forecast to grow faster than the US market (18.6% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SSB's revenue (17.3% per year) is forecast to grow faster than the US market (9.9% per year).
High Growth Revenue: SSB's revenue (17.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SSB's Return on Equity is forecast to be low in 3 years time (7.9%).
How has South State performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SSB has a large one-off loss of $85.9M impacting its December 31 2020 financial results.
Growing Profit Margin: SSB's current net profit margins (13.4%) are lower than last year (29.3%).
Past Earnings Growth Analysis
Earnings Trend: SSB's earnings have grown by 7.3% per year over the past 5 years.
Accelerating Growth: SSB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SSB had negative earnings growth (-35.2%) over the past year, making it difficult to compare to the Banks industry average (1.4%).
Return on Equity
High ROE: SSB's Return on Equity (2.6%) is considered low.
How is South State's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: SSB's Assets to Equity ratio (8.1x) is low.
Allowance for Bad Loans: SSB has a sufficient allowance for bad loans (428%).
Low Risk Liabilities: 93% of SSB's liabilities are made up of primarily low risk sources of funding.
Loan Level: SSB has an appropriate level of Loans to Assets ratio (64%).
Low Risk Deposits: SSB's Loans to Deposits ratio (79%) is appropriate.
Level of Bad Loans: SSB has an appropriate level of bad loans (0.4%).
What is South State current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: SSB's dividend (2.35%) is higher than the bottom 25% of dividend payers in the US market (1.26%).
High Dividend: SSB's dividend (2.35%) is low compared to the top 25% of dividend payers in the US market (3.5%).
Stability and Growth of Payments
Stable Dividend: SSB's dividends per share have been stable in the past 10 years.
Growing Dividend: SSB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (85.3%), SSB's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: SSB's dividends in 3 years are forecast to be well covered by earnings (33% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
John Corbett (51 yo)
Mr. John C. Corbett has been the Chief Executive Officer and Director at South State Corporation since June 7, 2020. Mr. Corbett serves as the Chief Executive officer and Director of South State Bank, Nati...
CEO Compensation Analysis
Compensation vs Market: John's total compensation ($USD2.06M) is below average for companies of similar size in the US market ($USD6.40M).
Compensation vs Earnings: Insufficient data to compare John's compensation with company performance.
Experienced Management: SSB's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Experienced Board: SSB's board of directors are considered experienced (4.1 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SSB insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 111.8%.
South State Corporation's company bio, employee growth, exchange listings and data sources
- Name: South State Corporation
- Ticker: SSB
- Exchange: NasdaqGS
- Founded: 1933
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$5.672b
- Shares outstanding: 71.03m
- Website: https://www.southstatebank.com
Number of Employees
- South State Corporation
- 1101 First Street South
- Suite 202
- Winter Haven
- United States
South State Corporation operates as the bank holding company for South State Bank that provides a range of banking services and products. The company accepts checking accounts, savings deposits, interest-b...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/04/11 22:58|
|End of Day Share Price||2021/04/09 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.