South State (NASDAQ:SSB)‘s stock had its “hold” rating reaffirmed by equities researchers at Brean Capital in a report released on Wednesday.

Several other equities analysts have also issued reports on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $107.00 price target on shares of South State in a research report on Wednesday, November 29th. BidaskClub raised South State from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered South State from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $90.00 price target on shares of South State in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. South State presently has a consensus rating of “Hold” and an average price target of $97.33.

South State (NASDAQ:SSB) opened at $88.00 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $3,233.12, a PE ratio of 18.72, a PEG ratio of 2.33 and a beta of 1.09. South State has a 52-week low of $78.60 and a 52-week high of $94.50.

South State (NASDAQ:SSB) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share (EPS) 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 analyst estimates of $139.85 million. South State had a return on equity of 8.85% and a net margin of 20.48%. South State’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. research analysts expect that South State will post 4.72 earnings per share for the current year.

In other South State news, President John F. Windley sold 7,258 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $90.93, for a total value of $659,969.94. Following the completion of the transaction, the president now owns 37,764 shares of the company’s stock, valued at approximately $3,433,880.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James C. Cherry sold 16,255 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $89.01, for a total value of $1,446,857.55. Following the completion of the transaction, the director now directly owns 23,007 shares of the company’s stock, valued at approximately $2,047,853.07. The disclosure for this sale can be found here. In the last three months, insiders sold 72,620 shares of company stock valued at $6,611,006. 2.78% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its stake in shares of South State by 47.7% during the 2nd 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 grew its stake in shares of South State by 2.2% during the 2nd 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 grew its stake in shares of South State by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after acquiring an additional 20 shares during the period. Strs Ohio grew its stake in shares of South State by 38.5% during the 2nd quarter. Strs Ohio now owns 1,800 shares of the bank’s stock valued at $154,000 after acquiring an additional 500 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of South State by 48.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after acquiring an additional 614 shares during the period. 69.94% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “South State (SSB) Receives Hold Rating from Brean Capital” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/10/south-state-ssb-receives-hold-rating-from-brean-capital.html.

South State 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 (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.