South State Corp (NASDAQ:SSB) has received a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $78.25.
A number of equities analysts recently weighed in on the stock. SunTrust Banks upped their target price on shares of South State to $85.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. Zacks Investment Research raised shares of South State from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. BidaskClub raised shares of South State from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. Finally, ValuEngine raised shares of South State from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th.
In other South State news, Director Robert H. Demere, Jr. acquired 3,000 shares of South State stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $68.40 per share, for a total transaction of $205,200.00. Following the purchase, the director now directly owns 49,081 shares in the company, valued at approximately $3,357,140.40. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Keith S. Rainwater sold 548 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $73.60, for a total transaction of $40,332.80. Following the transaction, the insider now owns 5,398 shares of the company’s stock, valued at $397,292.80. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company’s stock.
Shares of SSB traded up $0.13 during trading hours on Friday, reaching $80.20. The stock had a trading volume of 4,186 shares, compared to its average volume of 140,031. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. South State has a 52 week low of $56.55 and a 52 week high of $86.05. The company’s 50-day moving average is $74.66. The company has a market cap of $2.73 billion, a P/E ratio of 14.58 and a beta of 1.32.
South State (NASDAQ:SSB) last announced its earnings results on Monday, July 29th. The bank reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.08. The firm had revenue of $164.80 million during the quarter, compared to analyst estimates of $159.75 million. South State had a net margin of 25.33% and a return on equity of 8.11%. During the same period in the prior year, the business earned $1.43 EPS. Equities analysts forecast that South State will post 5.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from South State’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, August 8th. South State’s dividend payout ratio is currently 29.09%.
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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