JP Morgan Reiterates Buy Rating for SouthState Bank Corp
JP Morgan maintains its buy rating with a $120 price target for SouthState Bank Corp, a 20.12% upside from the current price.
Key Points
- JP Morgan reiterated its buy rating for SouthState Bank Corp (NYSE:SSB) with a price target of $120 on July 1, 2026.
- JP Morgan's $120 price target implies 20.12% upside from SouthState Bank Corporation's ($SSB) current $99.90 share price.
- SouthState Bank Corp shares traded near $99.9 on Wednesday, with a market cap of about $9.76 billion and a P/E ratio of 10.77.
- Insiders recently bought shares, and analysts maintain a strong buy consensus with a mean target price of $115.69.
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On July 1, 2026, JP Morgan reiterated its buy rating for SouthState Bank Corporation (NYSE:SSB), maintaining a price target of $120. Analyst Anthony Elian led this decision, emphasizing confidence in the bank's performance.
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SouthState Bank Corporation Stock Down 5.7%
Shares of NYSE:SSB traded near $99.9 on Wednesday. SouthState Bank Corp has a market cap of approximately $9.76 billion, with a P/E ratio of 10.77 and a forward P/E of 9.59. The stock has seen a 52-week low of $84.48 and a high of $108.46. Its 50-day moving average is $96.28, and the 200-day moving average is $95.99. The company operates with a beta of 0.707, indicating lower volatility compared to the market.
$SSB price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
SouthState Bank Corp reported revenues of about $2.68 billion, with a revenue growth of 22.8%. The company achieved a net margin of 34.95% and a return on equity of 10.6%. The next earnings report is expected on July 23, 2026.
Insider Buying and Selling at SouthState Bank Corporation
Several insiders recently purchased shares of SouthState Bank Corporation. On May 4, 2026, Cooper Shantella, Douglas Hertz, William Pou Jr., and Ruffner Page Jr. each bought shares at an average price of $96.46. Earlier, on May 1, 2026, Benjamin Sasse and Stacy Smith acquired shares at $97.48.
Analysts Set New Price Targets
On July 1, 2026, JP Morgan maintained its buy rating for SouthState Bank Corp with a $120 price target. Citigroup also maintained a buy rating on June 25, 2026, with a $115 target. The consensus among analysts remains strong buy, with a mean target price of $115.69 across 13 opinions.
About SouthState Bank Corporation
SouthState Bank Corporation, based in Winter Haven, Florida, is a regional bank that offers a variety of banking services to individuals and businesses across the United States. The bank provides a range of accounts, loans, and financial services, including real estate and consumer loans, asset and wealth management, and treasury management services. Led by CEO John C. Corbett, the company employs around 6,390 people.
Bottom Line
JP Morgan's reiterated buy rating for SouthState Bank Corp reflects ongoing confidence in the bank's market position and growth potential. Investors keep a close eye on such ratings updates as part of their portfolio strategies. As always, it's important to remember that analyst ratings are just one part of the larger investment picture.
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