News headlines about South State Bank (NASDAQ:SSB) have been trending positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. South State Bank earned a daily sentiment score of 0.27 on Accern’s scale. Accern also gave media stories about the bank an impact score of 43.8857293639722 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
A number of brokerages recently issued reports on SSB. Zacks Investment Research lowered shares of South State Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BidaskClub upgraded shares of South State Bank from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. SunTrust Banks reiterated a “buy” rating and issued a $108.00 target price on shares of South State Bank in a research report on Wednesday, January 24th. Brean Capital reiterated a “hold” rating on shares of South State Bank in a research report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $102.00 target price on shares of South State Bank in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $99.20.
NASDAQ SSB traded down $1.70 on Friday, reaching $84.40. The company’s stock had a trading volume of 99,343 shares, compared to its average volume of 164,712. South State Bank has a twelve month low of $78.60 and a twelve month high of $94.50. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3,167.20, a price-to-earnings ratio of 17.75, a PEG ratio of 1.85 and a beta of 1.01.
South State Bank (NASDAQ:SSB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.11. South State Bank had a net margin of 15.22% and a return on equity of 8.15%. The company had revenue of $151.37 million during the quarter, compared to the consensus estimate of $147.91 million. During the same period in the prior year, the company earned $1.15 EPS. South State Bank’s revenue was up 33.4% on a year-over-year basis. research analysts predict that South State Bank will post 5.81 earnings per share for the current year.
In other South State Bank news, Director James C. Cherry sold 11,507 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $88.52, for a total transaction of $1,018,599.64. Following the completion of the sale, the director now directly owns 11,500 shares of the company’s stock, valued at $1,017,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Keith S. Rainwater sold 315 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $91.00, for a total transaction of $28,665.00. Following the sale, the insider now directly owns 5,013 shares of the company’s stock, valued at $456,183. The disclosure for this sale can be found here. Insiders sold a total of 32,252 shares of company stock valued at $2,887,856 over the last three months. 1.96% of the stock is owned by corporate insiders.
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About South State Bank
South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, ATM processing, and wealth management and trust services.
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