Keefe, Bruyette & Woods Reiterates Outperform on South State (SSB), Highlights Stock in Best Ideas for 2025 Note

Keefe, Bruyette & Woods analyst Catherine Mealor reiterated an Outperform rating and $135.00 price target on South State (NYSE: SSB). The stock has also been highlighted as one of KBW's Best Ideas for 2025.

The analyst said: "SSB to Deliver +20% PPNR/Share Growth in ’25E. We are adjusting our EPS estimates to incorporate an earlier close for the IBTX deal (January 1 vs. April 1), and are incorporating KBW’s new Economic Baseline which takes 2 cuts out of 2025. We move 4Q24E EPS to $1.82 from $1.92, 2025E to $8.15 from $8.25 and 2026E to $9.50 from $9.60. The earlier close and stronger growth helps offset the impact of fewer cuts, and we believe SSB remains one of the most compelling ways to buy the buyers and effective execution of the IBTX deal will drive the multiple higher over the course of 2025. We maintain our $135 PT which is 14x 2026E EPS and continue to rate the shares Outperform."

For an analyst ratings summary and ratings history on South State click here. For more ratings news on South State click here.

Shares of South State closed at $97.00 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Berkshire adds significantly to Alphabet position, starts small position in DR Horton
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)