South State (SSB) – Research Analysts’ Weekly Ratings Changes

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

  • 1/11/2018 – South State was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $102.00 price target on the stock. 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. “
  • 1/10/2018 – South State was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/2/2018 – South State had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 12/27/2017 – South State 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. “
  • 12/9/2017 – South State was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/6/2017 – South State had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 11/29/2017 – South State had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $107.00 price target on the stock.
  • 11/15/2017 – South State was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of South State Co. (SSB) traded up $0.85 during trading hours on Thursday, reaching $89.35. The company’s stock had a trading volume of 170,300 shares, compared to its average volume of 161,400. The company has a market capitalization of $3,240.00, a price-to-earnings ratio of 22.91, a P/E/G ratio of 2.20 and a beta of 1.09. 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 1-year low of $78.60 and a 1-year high of $94.50.

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

In other news, Director Robert R. Horger sold 21,252 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $91.89, for a total value of $1,952,846.28. Following the transaction, the director now owns 75,084 shares in the company, valued at $6,899,468.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joe E. Burns sold 6,548 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $92.39, for a total value of $604,969.72. Following the completion of the transaction, the insider now owns 37,595 shares in the company, valued at approximately $3,473,402.05. The disclosure for this sale can be found here. Insiders sold 72,620 shares of company stock worth $6,611,006 in 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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