Analysts expect South State Corp (NASDAQ:SSB) to announce sales of $158.86 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for South State’s earnings, with the lowest sales estimate coming in at $157.90 million and the highest estimate coming in at $160.10 million. South State posted sales of $172.49 million in the same quarter last year, which suggests a negative year over year growth rate of 7.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, April 23rd.
On average, analysts expect that South State will report full year sales of $654.74 million for the current financial year, with estimates ranging from $649.41 million to $659.30 million. For the next year, analysts forecast that the firm will post sales of $682.75 million, with estimates ranging from $673.05 million to $690.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for South State.
South State (NASDAQ:SSB) last released its earnings results on Monday, January 28th. The bank reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. The firm had revenue of $162.03 million for the quarter, compared to analysts’ expectations of $160.79 million. South State had a net margin of 24.99% and a return on equity of 8.59%. During the same period in the previous year, the company earned $1.30 earnings per share.
SSB opened at $70.36 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.79 and a beta of 1.22. South State has a twelve month low of $56.55 and a twelve month high of $93.25.
In related news, insider Keith S. Rainwater sold 500 shares of the company’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 transaction of $35,500.00. Following the sale, the insider now owns 6,146 shares of the company’s stock, valued at approximately $436,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President John F. Windley sold 3,947 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $71.01, for a total transaction of $280,276.47. Following the sale, the president now directly owns 39,021 shares in the company, valued at approximately $2,770,881.21. The disclosure for this sale can be found here. Insiders have sold a total of 14,339 shares of company stock worth $978,540 in the last ninety days. 2.05% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. MUFG Securities EMEA plc bought a new stake in South State during the 4th quarter worth approximately $899,000. American Century Companies Inc. increased its holdings in South State by 19.1% during the 4th quarter. American Century Companies Inc. now owns 197,128 shares of the bank’s stock worth $11,818,000 after acquiring an additional 31,597 shares during the period. Geode Capital Management LLC increased its holdings in South State by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 412,314 shares of the bank’s stock worth $24,718,000 after acquiring an additional 23,760 shares during the period. Norges Bank bought a new stake in South State during the 4th quarter worth approximately $13,657,000. Finally, Aurora Investment Counsel increased its holdings in South State by 9.2% during the 4th quarter. Aurora Investment Counsel now owns 21,689 shares of the bank’s stock worth $1,300,000 after acquiring an additional 1,832 shares during the period. 78.01% of the stock is currently owned by institutional investors and hedge funds.
About South State
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, 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, ATM processing, and wealth management and trust services.
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