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Fly News Breaks for February 28, 2020
CSFL, SSB
Feb 28, 2020 | 07:52 EDT
DA Davidson analyst Kevin Fitzsimons initiated coverage of South State (SSB) with a Neutral rating and $80 price target. The analyst is positive on the bank's combination with CenterState Bank (CSFL) increasing the size and scale of its Southeastern footprint along with its emphasis on digital, but he also sees some potential headwinds in the form of a difficult interest rate curve, the prospect of additional Fed rate cuts, and receding contribution of accretion income.
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