Brokerages predict that South State Corporation (NASDAQ:SSB) will announce $139.85 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for South State Corporation’s earnings, with the lowest sales estimate coming in at $139.10 million and the highest estimate coming in at $140.60 million. South State Corporation posted sales of $116.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is scheduled to report its next quarterly earnings results on Friday, October 20th.

On average, analysts expect that South State Corporation will report full-year sales of $139.85 million for the current fiscal year. For the next financial year, analysts forecast that the company will post sales of $727.45 million per share, with estimates ranging from $714.20 million to $740.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover South State Corporation.

South State Corporation (NASDAQ:SSB) last posted its earnings results on Friday, July 21st. The bank reported $1.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.18. South State Corporation had a net margin of 20.00% and a return on equity of 9.15%. The firm had revenue of $136.61 million during the quarter, compared to analyst estimates of $137.00 million.

Several equities analysts have recently issued reports on SSB shares. BidaskClub lowered South State Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Zacks Investment Research raised South State Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 2nd. Brean Capital reaffirmed a “hold” rating on shares of South State Corporation in a research report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods raised South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $96.50.

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Shares of South State Corporation (SSB) opened at 80.95 on Friday. The stock has a 50 day moving average of $82.10 and a 200 day moving average of $85.57. South State Corporation has a 1-year low of $70.75 and a 1-year high of $93.40. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 21.15 and a beta of 1.08.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 11th were issued a $0.33 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.32 annualized dividend and a yield of 1.63%. South State Corporation’s payout ratio is 34.11%.

In related news, CEO Robert R. Hill, Jr. sold 2,831 shares of South State Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $82.10, for a total value of $232,425.10. Following the completion of the sale, the chief executive officer now directly owns 140,215 shares in the company, 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 South State Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $83.39, for a total value of $41,695.00. Following the completion of the sale, the insider now owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The disclosure for this sale can be found here. Insiders sold a total of 3,581 shares of company stock valued at $294,408 over the last quarter. 2.78% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in SSB. Strs Ohio grew its stake in shares of South State Corporation by 116.7% during the 1st quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $116,000 after purchasing an additional 700 shares during the period. First Trust Advisors LP grew its stake in shares of South State Corporation by 17.3% during the 1st quarter. First Trust Advisors LP now owns 88,264 shares of the bank’s stock valued at $7,886,000 after purchasing an additional 13,008 shares during the period. Swiss National Bank grew its stake in shares of South State Corporation by 14.6% during the 1st quarter. Swiss National Bank now owns 45,552 shares of the bank’s stock valued at $4,070,000 after purchasing an additional 5,800 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of South State Corporation by 13.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 310,898 shares of the bank’s stock valued at $27,779,000 after purchasing an additional 36,849 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of South State Corporation by 127.6% during the 1st quarter. Ameriprise Financial Inc. now owns 8,203 shares of the bank’s stock valued at $733,000 after purchasing an additional 4,599 shares during the period. Institutional investors and hedge funds own 66.71% of the company’s stock.

South State Corporation Company Profile

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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