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SSB · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is SouthState Bank Corporation (SSB) stock moving?
Analyst sentiment has improved in the last two weeks. Barclays reaffirmed Overweight and raised its target to $128 on Nov 3, and Truist reaffirmed Buy with a $118 target on Oct 28. Against the Nov 10 close of $105.77, these targets imply roughly 12% to 21% upside. The Q3 2026 report (released Oct 21) showed net income of $224M, diluted EPS of $2.30, NII up 3% quarter over quarter to $592M, NIM of 3.77%, net charge-offs of 0.09%, and a $20M provision. Tangible book value per share rose 7% year over year to $58.19 after a 10% dividend increase and nearly 5% of shares repurchased over the past year. The main negatives are that a fiscal.ai summary cites year-over-year declines in revenue and EPS amid higher credit-loss provisions, that loan accretion fell $56M year over year, and that noninterest expense rose $17M quarter over quarter. Market data shows the stock flat over the past three weeks, trading in a roughly $104 to $107 band. It spiked to an intraday high of $109.58 on Nov 4 and then reversed to $104.06 the next day. Volume has faded from above 1.2M shares on Oct 22 and Nov 2 to 464K shares on Nov 10, so the analyst upgrades have not yet moved the price.
News behind the analysis
- Barclays Maintains Overweight on SouthState Bank, Raises Price Target to $128Barclays reaffirmed its Overweight rating and raised its price target from $120 to $128.
- Barclays Maintains Overweight Rating and Raises Price Target for SouthState BankBarclays kept its Overweight rating on SouthState and lifted its price target from $120 to $128.
- SouthState Bank Corporation Reports Third-Quarter 2026 Financial ResultsQ3 2026 revenue was $685.4M and diluted EPS $2.30, with a summary noting year-over-year declines amid higher credit-loss provisions. The release itself reports net interest income up 3% quarter over quarter and a $20M provision.
- Truist Securities Maintains Buy on SouthState Bank, Raises Price Target to $118Truist reaffirmed its Buy rating on SouthState and raised its price target to $118.
- Truist Securities Maintains Buy Rating on SouthState BankTruist Securities reaffirmed its Buy rating on SouthState Bank Corporation.
About SouthState Bank Corporation
SouthState Bank Corporation is the holding company for SouthState Bank, N.A., a regional bank based in Winter Haven, Florida. It serves about 1.8 million customers across the Southeast, Texas and Colorado. It has grown mainly by buying other banks, including CenterState in 2020 and Independent Bank Group of Texas, announced in 2024. It also runs a correspondent banking division that serves other banks nationwide.
How it makes money
Most of its revenue is net interest income, meaning the gap between the interest it earns on loans and securities and the interest it pays on deposits. Its loans are mostly commercial real estate, residential mortgage, and commercial and industrial loans, plus some consumer loans. The rest comes from fees for things like deposit services, mortgage banking, wealth management and correspondent banking services for other banks. Total revenue is roughly $2.6–3.4 billion a year, depending on how it is measured.
What usually moves SSB
- Interest rates and net interest margin
- Loan growth and credit quality, especially commercial real estate
- Deposit costs and competition for deposits
- Economic and population growth in Florida, Texas and the Southeast
- Bank merger integration and regulation