South State Corporation (NASDAQ: SSB) recently received a number of ratings updates from brokerages and research firms:

  • 8/2/2017 – South State Corporation had its “hold” rating reaffirmed by analysts at Brean Capital.
  • 7/26/2017 – South State Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” 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. “
  • 7/25/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/25/2017 – South State Corporation was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $95.00 price target on the stock.
  • 7/13/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/30/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 6/22/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/22/2017 – South State Corporation 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. “
  • 6/10/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

South State Corporation (SSB) opened at 83.90 on Tuesday. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 21.92 and a beta of 1.09. The stock’s 50 day moving average price is $85.21 and its 200 day moving average price is $86.98. South State Corporation has a one year low of $69.40 and a one year high of $93.40.

South State Corporation (NASDAQ:SSB) last posted its quarterly earnings data on Friday, July 21st. The bank reported $1.18 EPS for the quarter, hitting the consensus estimate of $1.18. South State Corporation had a return on equity of 9.74% and a net margin of 20.00%. The firm had revenue of $136.61 million for the quarter, compared to the consensus estimate of $137 million. Equities analysts predict that South State Corporation will post $4.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, August 9th. South State Corporation’s dividend payout ratio is currently 34.11%.

In other South State Corporation news, insider Joe E. Burns sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $85.00, for a total transaction of $165,750.00. Following the completion of the transaction, the insider now owns 42,795 shares in the company, valued at approximately $3,637,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert R. Hill, Jr. sold 5,727 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $85.27, for a total value of $488,341.29. Following the transaction, the chief executive officer now owns 137,269 shares of the company’s stock, valued at approximately $11,704,927.63. The disclosure for this sale can be found here. Insiders have sold 9,765 shares of company stock valued at $832,259 in the last quarter. 2.78% of the stock is currently owned by company insiders.

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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