South State (SSB) Stock Rating Reaffirmed by Brean Capital

South State (NASDAQ:SSB)‘s stock had its “hold” rating restated by equities researchers at Brean Capital in a research note issued to investors on Tuesday.

SSB has been the subject of a number of other research reports. BidaskClub cut shares of South State from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “buy” rating and set a $98.00 price target on shares of South State in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of South State from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $97.33.

Shares of South State (NASDAQ SSB) traded up $1.05 on Tuesday, reaching $88.40. 208,800 shares of the company’s stock were exchanged, compared to its average volume of 172,000. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3,209.21, a PE ratio of 22.67, a P/E/G ratio of 2.17 and a beta of 1.09. South State has a one year low of $78.60 and a one year high of $94.50.

South State (NASDAQ:SSB) last announced its earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $136.36 million during the quarter, compared to analysts’ expectations of $139.85 million. South State had a net margin of 20.48% and a return on equity of 8.85%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 earnings per share. research analysts predict that South State will post 4.72 earnings per share for the current fiscal year.

In related news, President John F. Windley sold 7,258 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $90.93, for a total value of $659,969.94. Following the completion of the sale, the president now directly owns 37,764 shares in the company, valued at $3,433,880.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James C. Cherry sold 16,255 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the completion of the sale, the director now owns 23,007 shares of the company’s stock, valued at $2,047,853.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,620 shares of company stock valued at $6,611,006. Insiders own 2.78% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SSB. Victory Capital Management Inc. grew its stake in South State by 23.1% during the third quarter. Victory Capital Management Inc. now owns 1,070,254 shares of the bank’s stock worth $96,376,000 after buying an additional 201,107 shares during the period. Goldman Sachs Group Inc. grew its stake in South State by 22.9% during the second quarter. Goldman Sachs Group Inc. now owns 965,758 shares of the bank’s stock worth $82,766,000 after buying an additional 179,644 shares during the period. Wasatch Advisors Inc. grew its stake in South State by 46.6% during the second quarter. Wasatch Advisors Inc. now owns 521,307 shares of the bank’s stock worth $44,676,000 after buying an additional 165,801 shares during the period. Westwood Holdings Group Inc. grew its stake in South State by 37.8% during the second quarter. Westwood Holdings Group Inc. now owns 505,381 shares of the bank’s stock worth $43,269,000 after buying an additional 138,626 shares during the period. Finally, BlackRock Inc. grew its stake in South State by 4.9% during the second quarter. BlackRock Inc. now owns 1,991,637 shares of the bank’s stock worth $170,684,000 after buying an additional 92,562 shares during the period. Hedge funds and other institutional investors own 55.72% of the company’s stock.

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South State Company Profile

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.

Analyst Recommendations for South State (NASDAQ:SSB)

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