South State Corporation (NASDAQ:SSB)‘s stock had its “hold” rating reaffirmed by investment analysts at Brean Capital in a report issued on Monday.

A number of other equities research analysts have also weighed in on SSB. BidaskClub raised South State Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Zacks Investment Research raised South State Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $98.00 price objective on shares of South State Corporation in a report on Thursday, October 12th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of South State Corporation in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $94.33.

Shares of South State Corporation (NASDAQ:SSB) traded down 1.57% during trading on Monday, reaching $90.70. The company’s stock had a trading volume of 65,104 shares. The firm has a market capitalization of $2.64 billion, a P/E ratio of 23.69 and a beta of 1.10. The company has a 50 day moving average price of $87.39 and a 200 day moving average price of $85.66. South State Corporation has a 52 week low of $70.75 and a 52 week high of $93.40.

South State Corporation (NASDAQ:SSB) last announced its quarterly earnings data on Friday, July 21st. The bank reported $1.18 earnings per share for the quarter, meeting 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 company had revenue of $136.61 million for the quarter, compared to analyst estimates of $137.00 million. On average, equities research analysts expect that South State Corporation will post $4.75 EPS for the current fiscal year.

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In other news, 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 owns 140,215 shares of the company’s stock, valued at approximately $11,511,651.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joe E. Burns sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was 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. Insiders sold a total of 3,581 shares of company stock worth $294,408 in the last ninety days. 2.78% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in SSB. Oppenheimer Asset Management Inc. boosted 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 boosted 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 boosted 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. Strs Ohio boosted its stake in shares of South State Corporation by 38.5% during the 2nd quarter. Strs Ohio now owns 1,800 shares of the bank’s stock worth $154,000 after acquiring an additional 500 shares in the last quarter. Finally, D.A. Davidson & CO. boosted 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. 66.72% of the stock is currently 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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