Shares of South State Corp (NASDAQ:SSB) have earned an average rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $78.25.
A number of research firms have weighed in on SSB. Zacks Investment Research upgraded South State from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub upgraded South State from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. SunTrust Banks raised their price target on South State to $85.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. Finally, TheStreet upgraded South State from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th.
NASDAQ SSB traded up $0.97 during trading hours on Friday, reaching $72.09. 186,100 shares of the stock traded hands, compared to its average volume of 166,389. South State has a 1 year low of $56.55 and a 1 year high of $91.25. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 13.11 and a beta of 1.29.
South State (NASDAQ:SSB) last released its quarterly earnings results on Monday, April 29th. The bank reported $1.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.26. South State had a return on equity of 8.27% and a net margin of 25.49%. The business had revenue of $155.33 million for the quarter, compared to the consensus estimate of $158.86 million. During the same quarter last year, the business posted $1.39 earnings per share. On average, equities analysts expect that South State will post 5.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were paid a dividend of $0.40 per share. This is a boost from South State’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, May 9th. South State’s dividend payout ratio (DPR) is 29.09%.
In related news, Director Robert H. Demere, Jr. acquired 3,000 shares of South State stock in a transaction dated Friday, June 7th. The shares were purchased at an average cost of $68.40 per share, with a total value of $205,200.00. Following the completion of the purchase, the director now owns 49,081 shares of the company’s stock, valued at $3,357,140.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James C. Cherry sold 1,785 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $75.96, for a total value of $135,588.60. Following the transaction, the director now directly owns 7,000 shares in the company, valued at $531,720. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in SSB. Toronto Dominion Bank bought a new position in shares of South State during the fourth quarter valued at about $26,000. FTB Advisors Inc. bought a new position in shares of South State during the fourth quarter valued at about $31,000. Bremer Trust National Association bought a new position in shares of South State during the fourth quarter valued at about $32,000. Bremer Bank National Association bought a new stake in shares of South State in the first quarter worth about $40,000. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of South State in the fourth quarter worth about $79,000. 79.22% of the stock is currently owned by hedge funds and other institutional investors.
About South State
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 services, 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, and ATM processing services.
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