Shares of South State Corp (NASDAQ:SSB) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $88.00.
Several equities research analysts have recently weighed in on the company. SunTrust Banks set a $88.00 price objective on South State and gave the company a “buy” rating in a report on Wednesday, September 18th. BidaskClub upgraded shares of South State from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. ValuEngine raised shares of South State from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Zacks Investment Research downgraded shares of South State from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Stephens upgraded shares of South State from an “underweight” rating to an “equal weight” rating in a research note on Monday, November 4th.
In other news, Director James W. Roquemore sold 4,791 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $76.15, for a total value of $364,834.65. Following the completion of the sale, the director now owns 37,515 shares in the company, valued at approximately $2,856,767.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert R. Horger sold 8,339 shares of South State stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $75.00, for a total transaction of $625,425.00. Following the completion of the sale, the director now directly owns 75,231 shares in the company, valued at approximately $5,642,325. The disclosure for this sale can be found here. Insiders sold a total of 13,649 shares of company stock worth $1,032,818 in the last 90 days. 2.05% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SSB. Ladenburg Thalmann Financial Services Inc. lifted its position in South State by 35.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 763 shares of the bank’s stock valued at $57,000 after purchasing an additional 201 shares during the period. CWM LLC raised its stake in shares of South State by 5,404.8% during the 3rd quarter. CWM LLC now owns 1,156 shares of the bank’s stock worth $87,000 after buying an additional 1,135 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of South State during the 3rd quarter worth approximately $165,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of South State in the 2nd quarter valued at approximately $217,000. Finally, HighTower Advisors LLC acquired a new stake in shares of South State in the 2nd quarter valued at approximately $244,000. 79.51% of the stock is owned by hedge funds and other institutional investors.
Shares of South State stock traded up $1.24 on Friday, hitting $83.73. The stock had a trading volume of 188,639 shares, compared to its average volume of 157,614. South State has a 52-week low of $56.55 and a 52-week high of $84.50. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 15.22 and a beta of 1.34. The company’s 50 day moving average price is $80.39 and its 200 day moving average price is $75.54.
South State (NASDAQ:SSB) last released its quarterly earnings results on Monday, October 28th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $164.96 million for the quarter, compared to the consensus estimate of $163.79 million. South State had a return on equity of 8.22% and a net margin of 25.53%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. Analysts predict that South State will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from South State’s previous quarterly dividend of $0.43. South State’s dividend payout ratio (DPR) is currently 33.45%.
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.
Recommended Story: What is the Dividend Aristocrat Index?
Receive News & Ratings for South State Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State and related companies with MarketBeat.com's FREE daily email newsletter.