Analysis-US regional bank deals rise as lenders aim to bolster balance sheets [Yahoo! Finance]
SouthState Corporation (SSB)
NASDAQ:AMEX Investor Relations:
southstatebank.com/rci_pt_bumper/5756
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Source: Yahoo! Finance
By Manya Saini and Niket Nishant (Reuters) - Regional lenders at the heart of last year's banking crisis are cutting more deals to shore up their balance sheets and compete with rivals, extending a wave of consolidation in the sector that may attract anti-trust scrutiny. The banks, generally with assets between $10 billion and $100 billion, have struck 38 deals so far this year, compared with 29 during the same period last year, according to Dealogic data. More than two-thirds of lenders in the KBW Regional Banking Index have a greater than 50% chance of being acquired over the next 12 months, according to a Reuters analysis of StarMine M&A data provided by LSEG. The model assigns target scores based on fundamentals, share price valuations and other factors. The regional banking sector has come under immense pressure as elevated interest rates have dampened borrowing, increased competition for deposits and led to larger losses on commercial real estate loans, forcing banks to
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News
- SouthState Co. (NASDAQ: SSB) had its price target raised by analysts at Truist Financial Co. from $109.00 to $111.00. They now have a "hold" rating on the stock.MarketBeat
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SSB
Earnings
- 7/24/24 - Beat
SSB
Sec Filings
- 9/20/24 - Form 4
- 9/20/24 - Form 144
- 9/18/24 - Form 144
- SSB's page on the SEC website