Is SouthState Corp. overvalued or undervalued?

As of 9 May 2025, the valuation grade for SouthState Corp. has moved from expensive to fair. Based on the current analysis, the company appears to be fairly valued. The P/E ratio stands at 16, while the industry average is approximately 15.14, indicating that SouthState is in line with its peers. Additionally, the Price to Book Value is 1.06, and the EV to EBITDA ratio is 12.08, both of which suggest a reasonable valuation relative to its financial performance.
In comparison with peers, East West Bancorp, Inc. is rated attractive with a P/E of 12.82, while First Horizon Corp. is also rated fair with a P/E of 12.18. SouthState's ROE is 6.62% and ROCE is 7.62%, which are modest but consistent with its current valuation. Notably, SouthState has outperformed the S&P 500 over the past year, returning 21.12% compared to the index's 10.26%, reinforcing the narrative that the stock is positioned fairly in the market.