Analysts expect that South State Corporation (NASDAQ:SSB) will report sales of $139.85 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for South State Corporation’s earnings. The lowest sales estimate is $139.10 million and the highest is $140.60 million. South State Corporation posted sales of $116.59 million in 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 report before the market opens on Tuesday, October 24th.

On average, analysts expect that South State Corporation will report full year sales of $139.85 million for the current financial year. For the next 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 Investment Research’s sales averages are a mean average based on a survey of research analysts that cover South State Corporation.

South State Corporation (NASDAQ:SSB) last released its quarterly earnings data 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. The business had revenue of $136.61 million during the quarter, compared to analysts’ expectations of $137.00 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%.

SSB has been the subject of a number of research reports. BidaskClub upgraded South State Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods upgraded 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 note on Tuesday, July 25th. Zacks Investment Research downgraded South State Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Finally, Brean Capital restated a “hold” rating on shares of South State Corporation in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. South State Corporation currently has an average rating of “Buy” and a consensus target price of $94.33.

South State Corporation (SSB) opened at 92.15 on Monday. The stock’s 50 day moving average price is $87.15 and its 200 day moving average price is $85.66. South State Corporation has a 52-week low of $70.75 and a 52-week high of $93.40. The firm has a market capitalization of $2.68 billion, a PE ratio of 24.07 and a beta of 1.10.

TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/23/south-state-corporation-ssb-expected-to-announce-quarterly-sales-of-139-85-million.html.

In other news, CEO Robert R. Hill, Jr. sold 2,831 shares of South State Corporation 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 of the company’s stock, valued at $11,511,651.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joe E. Burns sold 500 shares of South State Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,581 shares of company stock valued at $294,408. 2.78% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in shares of South State Corporation by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock valued at $132,000 after buying an additional 497 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of South State Corporation by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after buying an additional 34 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of South State Corporation by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after buying an additional 20 shares during the last quarter. Strs Ohio raised its holdings in shares of South State Corporation by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock valued at $154,000 after buying an additional 500 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of South State Corporation by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after buying an additional 614 shares during the last quarter. 66.72% of the stock is currently owned by institutional investors.

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.

Get a free copy of the Zacks research report on South State Corporation (SSB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.