A number of other research firms also recently weighed in on SSB. Zacks Investment Research raised South State Bank from a sell rating to a hold rating in a report on Wednesday, December 27th. Brean Capital reaffirmed a hold rating on shares of South State Bank in a report on Tuesday, January 2nd. BidaskClub downgraded South State Bank from a sell rating to a strong sell rating in a report on Wednesday, January 10th. SunTrust Banks reaffirmed a buy rating and set a $108.00 price objective on shares of South State Bank in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $102.00 price objective on shares of South State Bank in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $99.20.
SSB stock opened at $85.45 on Wednesday. South State Bank has a twelve month low of $78.60 and a twelve month high of $94.50. The stock has a market cap of $3,139.61, a P/E ratio of 17.86, a PEG ratio of 1.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93.
In other news, CEO Robert R. Hill, Jr. sold 9,272 shares of South State Bank stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $91.01, for a total value of $843,844.72. Following the completion of the transaction, the chief executive officer now owns 111,879 shares in the company, valued at $10,182,107.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert R. Hill, Jr. sold 8,878 shares of South State Bank stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $89.12, for a total transaction of $791,207.36. Following the completion of the transaction, the chief executive officer now owns 110,441 shares of the company’s stock, valued at approximately $9,842,501.92. The disclosure for this sale can be found here. Insiders sold 32,252 shares of company stock valued at $2,887,856 in the last quarter. 1.96% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in shares of South State Bank in the fourth quarter valued at approximately $111,000. Glenmede Trust Co. NA raised its stake in shares of South State Bank by 156.6% in the fourth quarter. Glenmede Trust Co. NA now owns 1,709 shares of the bank’s stock valued at $148,000 after acquiring an additional 1,043 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of South State Bank by 63.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock valued at $152,000 after acquiring an additional 675 shares during the last quarter. Bank of Montreal Can raised its stake in shares of South State Bank by 38.7% in the fourth quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock valued at $187,000 after acquiring an additional 600 shares during the last quarter. Finally, TNB Financial bought a new position in shares of South State Bank in the fourth quarter valued at approximately $200,000. Institutional investors own 72.43% of the company’s stock.
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About South State Bank
South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, ATM processing, and wealth management and trust services.
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