South State Co. (NASDAQ:SSB) CEO Robert R. Hill, Jr. sold 882 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.80, for a total value of $78,321.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of South State Co. (NASDAQ SSB) opened at $90.55 on Monday. The stock has a market capitalization of $3,328.62, a price-to-earnings ratio of 30.39, a PEG ratio of 1.95 and a beta of 1.05. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. South State Co. has a 52-week low of $78.60 and a 52-week high of $94.50.
South State (NASDAQ:SSB) last announced its earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. The company had revenue of $151.37 million for the quarter, compared to analyst estimates of $147.91 million. South State had a return on equity of 9.04% and a net margin of 15.22%. South State’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 earnings per share. research analysts anticipate that South State Co. will post 5.81 EPS for the current fiscal year.
A number of analysts have recently commented on SSB shares. Brean Capital reissued a “hold” rating on shares of South State in a research note on Monday, October 23rd. BidaskClub downgraded South State from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks boosted their price objective on South State from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research downgraded South State from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $98.75.
Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of South State by 3.9% during the second quarter. Royal Bank of Canada now owns 3,945 shares of the bank’s stock worth $337,000 after purchasing an additional 147 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of South State by 15.2% during the second quarter. Ameritas Investment Partners Inc. now owns 2,537 shares of the bank’s stock worth $217,000 after purchasing an additional 335 shares during the period. Bank of Montreal Can raised its position in shares of South State by 38.7% during the fourth quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock worth $187,000 after purchasing an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of South State by 63.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock worth $152,000 after purchasing an additional 675 shares during the period. Finally, Intrust Bank NA raised its position in shares of South State by 16.0% during the fourth quarter. Intrust Bank NA now owns 5,424 shares of the bank’s stock worth $473,000 after purchasing an additional 749 shares during the period. 56.83% of the stock is currently owned by institutional investors.
About South State
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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