Equities analysts forecast that South State Co. (NASDAQ:SSB) will report sales of $359.90 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for South State’s earnings, with the lowest sales estimate coming in at $353.50 million and the highest estimate coming in at $370.80 million. South State posted sales of $216.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 65.9%. The firm is expected to issue its next earnings results on Thursday, July 29th.
On average, analysts expect that South State will report full year sales of $1.44 billion for the current year, with estimates ranging from $1.42 billion to $1.45 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.41 billion, with estimates ranging from $1.40 billion to $1.42 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover South State.
South State (NASDAQ:SSB) last posted its quarterly earnings data on Wednesday, April 28th. The bank reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.75. The company had revenue of $358.28 million for the quarter, compared to analyst estimates of $360.90 million. South State had a net margin of 8.18% and a return on equity of 6.67%. The business’s quarterly revenue was up 108.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share.
In related news, Chairman Robert R. Hill, Jr. sold 4,000 shares of South State stock in a transaction on Friday, March 12th. The shares were sold at an average price of $90.34, for a total value of $361,360.00. Also, Chairman Robert R. Hill, Jr. sold 10,000 shares of South State stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $83.43, for a total transaction of $834,300.00. In the last ninety days, insiders have sold 52,102 shares of company stock worth $4,531,377. Insiders own 1.43% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of South State by 6.4% during the fourth quarter. BlackRock Inc. now owns 5,380,668 shares of the bank’s stock worth $389,023,000 after buying an additional 325,688 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in South State by 2.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,863,145 shares of the bank’s stock valued at $279,305,000 after purchasing an additional 77,502 shares in the last quarter. Select Equity Group L.P. increased its stake in South State by 211.7% in the fourth quarter. Select Equity Group L.P. now owns 2,064,243 shares of the bank’s stock valued at $149,245,000 after purchasing an additional 1,401,885 shares in the last quarter. Victory Capital Management Inc. increased its stake in South State by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,656,087 shares of the bank’s stock valued at $119,735,000 after purchasing an additional 90,996 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of South State by 26.2% in the 4th quarter. Schroder Investment Management Group now owns 792,307 shares of the bank’s stock valued at $57,284,000 after purchasing an additional 164,591 shares during the period. Institutional investors own 76.01% of the company’s stock.
Shares of NASDAQ:SSB traded up $1.49 on Thursday, reaching $86.32. 369,521 shares of the company’s stock were exchanged, compared to its average volume of 342,117. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.23. South State has a fifty-two week low of $40.42 and a fifty-two week high of $93.26. The business’s 50-day moving average is $82.06 and its two-hundred day moving average is $75.71. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 55.08 and a beta of 1.08.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Friday, May 14th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, May 13th. South State’s dividend payout ratio (DPR) is 33.39%.
South State Company Profile
South State Corporation operates as the bank holding company for South State Bank that provides a range of banking services and products. The company accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, and other time deposits. It also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans.
Further Reading: Debt-To-Equity Ratio
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