Brokerages expect South State Co. (NASDAQ:SSB) to report earnings of $1.29 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for South State’s earnings. The highest EPS estimate is $1.47 and the lowest is $1.17. South State posted earnings of $1.15 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.2%. The firm is scheduled to report its next earnings results on Friday, April 20th.
According to Zacks, analysts expect that South State will report full-year earnings of $5.81 per share for the current year, with EPS estimates ranging from $5.55 to $6.13. For the next fiscal year, analysts forecast that the company will post earnings of $6.34 per share, with EPS estimates ranging from $6.25 to $6.45. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover South State.
South State (NASDAQ:SSB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. South State had a net margin of 15.22% and a return on equity of 9.04%. The company had revenue of $151.37 million during the quarter, compared to analyst estimates of $147.91 million. During the same period last year, the firm posted $1.15 EPS. South State’s revenue for the quarter was up 33.4% compared to the same quarter last year.
A number of equities analysts have issued reports on SSB shares. SunTrust Banks reissued a “buy” rating and set a $107.00 price target on shares of South State in a research report on Wednesday, November 29th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $102.00 price target on shares of South State in a research report on Tuesday. Brean Capital reissued a “hold” rating on shares of South State in a research report on Monday, February 5th. Zacks Investment Research raised shares of South State from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. Finally, BidaskClub raised shares of South State from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.50.
In related news, insider Keith S. Rainwater sold 315 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $91.00, for a total value of $28,665.00. Following the completion of the sale, the insider now owns 5,013 shares of the company’s stock, valued at approximately $456,183. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Robert R. Hill, Jr. sold 882 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.80, for a total transaction of $78,321.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,493 shares of company stock valued at $4,150,839. Insiders own 2.78% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SSB. Xact Kapitalforvaltning AB acquired a new stake in South State during the 4th quarter worth $301,000. Salem Investment Counselors Inc. boosted its stake in South State by 6.2% during the 4th quarter. Salem Investment Counselors Inc. now owns 13,247 shares of the bank’s stock worth $1,154,000 after purchasing an additional 770 shares during the last quarter. BRYN MAWR TRUST Co boosted its stake in South State by 48.0% during the 4th quarter. BRYN MAWR TRUST Co now owns 91,625 shares of the bank’s stock worth $7,985,000 after purchasing an additional 29,714 shares during the last quarter. Sterling Capital Management LLC boosted its stake in South State by 9.9% during the 4th quarter. Sterling Capital Management LLC now owns 17,699 shares of the bank’s stock worth $1,542,000 after purchasing an additional 1,598 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in South State during the 4th quarter worth $1,465,000. 65.06% of the stock is owned by institutional investors.
South State (SSB) traded down $1.80 on Thursday, reaching $87.40. 72,561 shares of the company’s stock were exchanged, compared to its average volume of 145,868. South State has a 12 month low of $78.60 and a 12 month high of $94.50. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3,262.84, a price-to-earnings ratio of 29.33, a PEG ratio of 1.91 and a beta of 1.05.
The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Thursday, February 8th. South State’s dividend payout ratio (DPR) is 44.30%.
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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.
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