South State Bank (NASDAQ:SSB) will announce its earnings results before the market opens on Tuesday, April 24th. Analysts expect the company to announce earnings of $1.40 per share for the quarter.
South State Bank (NASDAQ:SSB) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $147.91 million. During the same period last year, the company posted $1.15 EPS. South State Bank’s revenue was up 33.4% on a year-over-year basis. On average, analysts expect South State Bank to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Shares of NASDAQ SSB opened at $86.45 on Tuesday. South State Bank has a 1 year low of $78.60 and a 1 year high of $94.50. The stock has a market cap of $3,143.28, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.93.
In other news, Director James C. Cherry sold 11,507 shares of South State Bank stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $88.52, for a total value of $1,018,599.64. Following the completion of the sale, the director now directly owns 11,500 shares in the company, valued at $1,017,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert R. Hill, Jr. sold 9,272 shares of South State Bank stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $91.01, for a total transaction of $843,844.72. Following the completion of the sale, the chief executive officer now owns 111,879 shares of the company’s stock, valued at $10,182,107.79. The disclosure for this sale can be found here. Insiders sold 32,252 shares of company stock valued at $2,887,856 over the last quarter. Company insiders own 1.96% of the company’s stock.
SSB has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of South State Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. Brean Capital restated a “hold” rating on shares of South State Bank in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $102.00 price objective on shares of South State Bank in a research note on Tuesday, February 27th. SunTrust Banks restated a “buy” rating and set a $108.00 price objective on shares of South State Bank in a research note on Wednesday, January 24th. Finally, BidaskClub upgraded shares of South State Bank from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $99.20.
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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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