Analysts expect that South State Corp (NASDAQ:SSB) will post earnings per share of $1.26 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for South State’s earnings, with estimates ranging from $1.25 to $1.27. South State posted earnings of $1.39 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.4%. The company is expected to announce its next earnings report after the market closes on Monday, April 29th.
According to Zacks, analysts expect that South State will report full year earnings of $5.39 per share for the current fiscal year, with EPS estimates ranging from $5.30 to $5.50. For the next fiscal year, analysts anticipate that the company will post earnings of $5.69 per share, with EPS estimates ranging from $5.42 to $5.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover South State.
South State (NASDAQ:SSB) last announced its quarterly earnings results on Monday, January 28th. The bank reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $162.03 million during the quarter, compared to the consensus estimate of $160.79 million. South State had a net margin of 24.99% and a return on equity of 8.59%. During the same quarter last year, the firm earned $1.30 EPS.
Shares of NASDAQ SSB traded up $0.29 during midday trading on Wednesday, reaching $73.65. 112,800 shares of the stock were exchanged, compared to its average volume of 183,467. The company has a market capitalization of $2.53 billion, a P/E ratio of 13.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.95. South State has a twelve month low of $56.55 and a twelve month high of $93.25.
In other South State news, insider Keith S. Rainwater sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $71.00, for a total value of $35,500.00. Following the completion of the transaction, the insider now owns 6,146 shares of the company’s stock, valued at approximately $436,366. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert R. Hill, Jr. sold 9,892 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $67.00, for a total transaction of $662,764.00. The disclosure for this sale can be found here. Insiders sold a total of 14,339 shares of company stock valued at $978,540 in the last three months. 2.05% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc lifted its position in South State by 1.5% in the third quarter. Vanguard Group Inc now owns 3,214,729 shares of the bank’s stock valued at $263,609,000 after acquiring an additional 47,669 shares during the last quarter. Vanguard Group Inc. lifted its position in South State by 1.5% in the third quarter. Vanguard Group Inc. now owns 3,214,729 shares of the bank’s stock valued at $263,609,000 after acquiring an additional 47,669 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in South State by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,575,107 shares of the bank’s stock valued at $94,428,000 after acquiring an additional 103,151 shares during the last quarter. Victory Capital Management Inc. lifted its position in South State by 2.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,173,022 shares of the bank’s stock valued at $70,323,000 after acquiring an additional 23,175 shares during the last quarter. Finally, Fenimore Asset Management Inc. lifted its position in South State by 1.9% in the first quarter. Fenimore Asset Management Inc. now owns 892,968 shares of the bank’s stock valued at $61,025,000 after acquiring an additional 16,280 shares during the last quarter. 78.55% of the stock is owned by institutional investors.
South State Company Profile
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.
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