TheStreet Downgrades South State Bank (SSB) to C+

TheStreet lowered shares of South State Bank (NASDAQ:SSB) from a b rating to a c+ rating in a research report report published on Wednesday.

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.



South State Bank (NASDAQ:SSB) last released its earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. South State Bank had a return on equity of 8.15% and a net margin of 15.22%. The business had revenue of $151.37 million for the quarter, compared to the consensus estimate of $147.91 million. During the same period last year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. sell-side analysts predict that South State Bank will post 5.81 earnings per share for the current fiscal year.

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.

Analyst Recommendations for South State Bank (NASDAQ:SSB)

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