South State Corporation (SSB) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of South State Corporation (NASDAQ: SSB) recently:

  • 10/12/2017 – South State Corporation had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $98.00 price target on the stock.
  • 10/5/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 10/5/2017 – South State Corporation had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $90.00 price target on the stock.
  • 9/27/2017 – South State Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “South State Corporation is a bank holding company for South State Bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. It offers demand, time and savings deposits, lending and credit card servicing; automated teller machine processing; and wealth management and trust services. South State Corporation, formerly known as First Financial Holdings, Inc., is headquartered in South Carolina. “
  • 9/27/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 9/15/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/8/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/2/2017 – South State Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “South State Corporation is a bank holding company for South State Bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. It offers demand, time and savings deposits, lending and credit card servicing; automated teller machine processing; and wealth management and trust services. South State Corporation, formerly known as First Financial Holdings, Inc., is headquartered in South Carolina. “
  • 8/25/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

South State Corporation (SSB) traded down 0.76% during mid-day trading on Thursday, reaching $91.80. The company had a trading volume of 93,473 shares. South State Corporation has a 12-month low of $70.75 and a 12-month high of $93.40. The stock has a 50 day moving average price of $85.20 and a 200-day moving average price of $85.47. The stock has a market capitalization of $2.67 billion, a P/E ratio of 23.98 and a beta of 1.10.

South State Corporation (NASDAQ:SSB) last announced its earnings results on Friday, July 21st. The bank reported $1.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.18. The business had revenue of $136.61 million for the quarter, compared to analyst estimates of $137.00 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%. Equities analysts anticipate that South State Corporation will post $4.75 EPS for the current fiscal year.

In other news, insider Joe E. Burns sold 500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $83.39, for a total value of $41,695.00. Following the completion of the transaction, the insider now directly owns 39,947 shares in the company, valued at approximately $3,331,180.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $82.10, for a total value of $232,425.10. Following the completion of the transaction, the chief executive officer now owns 140,215 shares of the company’s stock, valued at $11,511,651.50. The disclosure for this sale can be found here. Insiders sold a total of 3,581 shares of company stock worth $294,408 over the last 90 days. Corporate insiders own 2.78% of the company’s stock.

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.

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