South State Corporation (NASDAQ:SSB)‘s stock had its “buy” rating restated by equities research analysts at SunTrust Banks, Inc. in a report issued on Thursday. They currently have a $98.00 price target on the bank’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 6.75% from the stock’s current price.

Several other equities analysts also recently issued reports on SSB. BidaskClub raised shares of South State Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Brean Capital reaffirmed a “hold” rating on shares of South State Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of South State Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $90.00 target price on shares of South State Corporation in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $94.33.

Shares of South State Corporation (NASDAQ:SSB) traded down 0.76% during midday trading on Thursday, hitting $91.80. 96,147 shares of the company’s stock traded hands. The company has a 50 day moving average price of $85.20 and a 200 day moving average price of $85.47. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 23.98 and a beta of 1.10. South State Corporation has a 1-year low of $70.75 and a 1-year high of $93.40.

South State Corporation (NASDAQ:SSB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $1.18 earnings per share (EPS) for the quarter, meeting the 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 the consensus estimate of $137.00 million. Equities analysts anticipate that South State Corporation will post $4.75 earnings per share for the current year.

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In related news, insider Joe E. Burns sold 500 shares of the business’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 completion of the sale, the insider now directly owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of the business’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 directly owns 140,215 shares of the company’s stock, valued at $11,511,651.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,581 shares of company stock valued at $294,408. Insiders own 2.78% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SSB. BlackRock Inc. raised its stake in shares of South State Corporation by 15,348.4% during the first quarter. BlackRock Inc. now owns 1,899,075 shares of the bank’s stock worth $169,681,000 after buying an additional 1,886,782 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of South State Corporation by 21.8% during the first quarter. Vanguard Group Inc. now owns 2,189,012 shares of the bank’s stock worth $195,589,000 after buying an additional 391,665 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of South State Corporation by 2,286.6% during the first quarter. Westwood Holdings Group Inc. now owns 366,755 shares of the bank’s stock worth $32,769,000 after buying an additional 351,388 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of South State Corporation by 22.9% during the second quarter. Goldman Sachs Group Inc. now owns 965,758 shares of the bank’s stock worth $82,766,000 after buying an additional 179,644 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its stake in shares of South State Corporation by 46.6% during the second quarter. Wasatch Advisors Inc. now owns 521,307 shares of the bank’s stock worth $44,676,000 after buying an additional 165,801 shares during the last quarter. 66.71% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for South State Corporation (NASDAQ:SSB)

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