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

Several other equities research analysts have also recently weighed in on SSB. Zacks Investment Research cut South State Corporation from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub cut South State Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. SunTrust Banks, Inc. boosted their target price on South State Corporation from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Piper Jaffray Companies restated a “neutral” rating and set a $90.00 target price on shares of South State Corporation in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $95.67.

Shares of South State Corporation (NASDAQ:SSB) traded down 2.60% during trading on Monday, hitting $90.05. 105,839 shares of the company traded hands. The stock has a market capitalization of $2.62 billion, a PE ratio of 23.52 and a beta of 1.10. The company has a 50-day moving average of $88.54 and a 200-day moving average of $85.82. South State Corporation has a 52-week low of $70.75 and a 52-week high of $93.85.

South State Corporation (NASDAQ:SSB) last posted its earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The firm had revenue of $136.36 million during the quarter, compared to analysts’ expectations of $139.85 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.48%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.18 earnings per share. Equities analysts expect that South State Corporation will post $4.75 EPS for the current year.

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In other news, 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 transaction, the insider now owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joe E. Burns sold 6,548 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $92.39, for a total value of $604,969.72. Following the completion of the transaction, the insider now directly owns 37,595 shares in the company, valued at approximately $3,473,402.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,405 shares of company stock valued at $4,048,478. 2.78% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of South State Corporation by 47.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock valued at $132,000 after purchasing an additional 497 shares during the period. Bank of Montreal Can increased its holdings in shares of South State Corporation by 2.2% in the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after purchasing an additional 34 shares during the period. SG Americas Securities LLC increased its holdings in shares of South State Corporation by 1.3% in the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after purchasing an additional 20 shares during the period. Strs Ohio increased its holdings in shares of South State Corporation by 38.5% in the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock valued at $154,000 after purchasing an additional 500 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of South State Corporation by 48.5% in the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after purchasing an additional 614 shares during the period. 66.57% of the stock is currently owned by institutional investors and hedge funds.

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)

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