A number of research firms have changed their ratings and price targets for South State Corporation (NASDAQ: SSB):

  • 9/15/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 9/8/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/2/2017 – 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. “
  • 8/25/2017 – South State Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 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 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.
  • 7/25/2017 – South State Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Shares of South State Corporation (NASDAQ:SSB) opened at 82.10 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 21.45 and a beta of 1.08. The company has a 50-day moving average price of $82.17 and a 200-day moving average price of $85.64. South State Corporation has a 52 week low of $70.75 and a 52 week high of $93.40.

South State Corporation (NASDAQ:SSB) last announced its quarterly earnings data on Friday, July 21st. The bank reported $1.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.18. The company had revenue of $136.61 million for the quarter, compared to the consensus estimate of $137.00 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%. Equities analysts anticipate that South State Corporation will post $4.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 11th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, August 9th. South State Corporation’s dividend payout ratio (DPR) is presently 34.11%.

In other news, CEO Robert R. Hill, Jr. sold 2,831 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $82.10, for a total transaction of $232,425.10. Following the transaction, the chief executive officer now owns 140,215 shares of the company’s stock, valued at approximately $11,511,651.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joe E. Burns sold 500 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $83.39, for a total value of $41,695.00. Following the transaction, the insider now directly owns 39,947 shares in the company, valued at approximately $3,331,180.33. The disclosure for this sale can be found here. Insiders sold a total of 3,581 shares of company stock worth $294,408 in the last ninety days. 2.78% of the stock is currently owned by corporate 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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