South State Corporation (NASDAQ:SSB) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other brokerages have also weighed in on SSB. Zacks Investment Research lowered South State Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods raised South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 target price for the company in a research report on Tuesday, July 25th. Finally, Brean Capital reissued a “hold” rating on shares of South State Corporation in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. South State Corporation has an average rating of “Hold” and an average target price of $96.50.

South State Corporation (NASDAQ SSB) traded down 1.40% during mid-day trading on Friday, reaching $80.95. 400,038 shares of the company were exchanged. The company has a market capitalization of $2.36 billion, a PE ratio of 21.15 and a beta of 1.08. South State Corporation has a one year low of $70.75 and a one year high of $93.40. The stock has a 50-day moving average price of $82.10 and a 200 day moving average price of $85.57.

South State Corporation (NASDAQ:SSB) last issued its earnings results on Friday, July 21st. The bank reported $1.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.18. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%. The business had revenue of $136.61 million during the quarter, compared to analyst estimates of $137.00 million. Analysts predict that South State Corporation will post $4.75 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/09/16/south-state-corporation-ssb-rating-increased-to-hold-at-bidaskclub.html.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of South State Corporation by 12.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 106,232 shares of the bank’s stock valued at $9,492,000 after purchasing an additional 11,460 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of South State Corporation by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 786,114 shares of the bank’s stock valued at $70,239,000 after purchasing an additional 3,268 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of South State Corporation during the 1st quarter valued at about $785,000. Swiss National Bank increased its position 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 last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of South State Corporation by 12.0% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,927 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 1,927 shares during the last quarter. 66.71% of the stock is owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for South State Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State Corporation and related companies with MarketBeat.com's FREE daily email newsletter.