South State Corporation (NASDAQ:SSB)‘s stock had its “neutral” rating restated by stock analysts at Piper Jaffray Companies in a research report issued on Thursday, MarketBeat Ratings reports. They presently have a $90.00 price objective on the bank’s stock. Piper Jaffray Companies’ price target would suggest a potential downside of 2.07% from the stock’s previous close.

SSB has been the topic of a number of other reports. BidaskClub downgraded shares of South State Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of South State Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods upgraded shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research report on Tuesday, July 25th. Finally, Brean Capital reiterated a “hold” rating on shares of South State Corporation in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. South State Corporation presently has an average rating of “Buy” and an average target price of $92.50.

South State Corporation (SSB) traded up 0.38% during midday trading on Thursday, hitting $91.90. 126,232 shares of the stock were exchanged. South State Corporation has a one year low of $70.75 and a one year high of $93.40. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 24.01 and a beta of 1.10. The company has a 50 day moving average price of $83.61 and a 200 day moving average price of $85.25.

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

COPYRIGHT VIOLATION WARNING: “South State Corporation (SSB) Given Neutral Rating at Piper Jaffray Companies” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was copied illegally and republished in violation of international trademark & copyright law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/10/05/south-state-corporation-ssb-given-neutral-rating-at-piper-jaffray-companies.html.

In other South State Corporation news, insider Joe E. Burns sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total transaction of $41,695.00. Following the sale, the insider now directly owns 39,947 shares in the company, valued at approximately $3,331,180.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 140,215 shares in the company, valued at $11,511,651.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,581 shares of company stock worth $294,408 over the last 90 days. Corporate insiders own 2.78% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. 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 worth $116,000 after acquiring an additional 700 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of South State Corporation by 47.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock worth $132,000 after acquiring an additional 497 shares in the last quarter. Bank of Montreal Can grew its stake in shares of South State Corporation by 2.2% during the 2nd quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after acquiring an additional 34 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of South State Corporation by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock worth $135,000 after acquiring an additional 20 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of South State Corporation by 48.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock worth $161,000 after acquiring an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 66.71% of the company’s stock.

About South State Corporation

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.

Analyst Recommendations for South State Corporation (NASDAQ:SSB)

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.