Analysts Set South State Co. (SSB) PT at $98.75

Shares of South State Co. (NASDAQ:SSB) have been given an average rating of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $98.75.

A number of equities analysts have recently commented on the company. BidaskClub raised South State from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. Brean Capital reaffirmed a “hold” rating on shares of South State in a report on Monday, February 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $108.00 price target on shares of South State in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised South State from a “hold” rating to a “strong-buy” rating and set a $102.00 price target for the company in a report on Thursday, January 11th.

South State (NASDAQ:SSB) traded up $1.75 during trading hours on Friday, reaching $90.55. The company’s stock had a trading volume of 142,700 shares, compared to its average volume of 152,275. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. South State has a twelve month low of $78.60 and a twelve month high of $94.50. The stock has a market capitalization of $3,328.59, a P/E ratio of 30.39, a P/E/G ratio of 1.95 and a beta of 1.05.

South State (NASDAQ:SSB) last released its earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.11. South State had a return on equity of 9.04% and a net margin of 15.22%. The business had revenue of $151.37 million during the quarter, compared to the consensus estimate of $147.91 million. During the same period last year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. analysts forecast that South State will post 5.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 8th. South State’s payout ratio is currently 44.30%.

In related news, insider Keith S. Rainwater sold 315 shares of South State stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $91.00, for a total transaction of $28,665.00. Following the completion of the sale, the insider now owns 5,013 shares of the company’s stock, valued at $456,183. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert R. Hill, Jr. sold 882 shares of South State stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $88.80, for a total value of $78,321.60. The disclosure for this sale can be found here. Insiders sold 45,095 shares of company stock valued at $4,023,621 over the last ninety days. Corporate insiders own 2.78% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Captrust Financial Advisors bought a new stake in South State during the fourth quarter valued at $111,000. Glenmede Trust Co. NA boosted its stake in South State by 156.6% during the fourth quarter. Glenmede Trust Co. NA now owns 1,709 shares of the bank’s stock valued at $148,000 after buying an additional 1,043 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in South State by 63.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock valued at $152,000 after buying an additional 675 shares during the period. Bank of Montreal Can boosted its stake in South State by 38.7% during the fourth quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock valued at $187,000 after buying an additional 600 shares during the period. Finally, TNB Financial bought a new stake in South State during the fourth quarter valued at $200,000. 65.06% of the stock is owned by institutional investors.

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South State Company Profile

South State Corporation (NASDAQ: SSB) is the largest bank holding company headquartered in South Carolina. Founded in 1933, the company’s primary subsidiary, South State Bank, has been serving the financial needs of its local communities in 19 South Carolina counties, 12 Georgia counties and 4 North Carolina counties for over 80 years.

Analyst Recommendations for South State (NASDAQ:SSB)

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