BidaskClub lowered shares of South State (NASDAQ:SSB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also recently commented on SSB. Zacks Investment Research cut South State from a hold rating to a sell rating in a research note on Friday, October 27th. SunTrust Banks reaffirmed a buy rating and set a $98.00 price objective on shares of South State in a research note on Thursday, October 12th. Piper Jaffray Companies reaffirmed a neutral rating and set a $90.00 price objective on shares of South State in a research note on Thursday, October 5th. Finally, Brean Capital reaffirmed a hold rating on shares of South State in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $97.33.

Shares of South State (SSB) opened at $87.25 on Friday. The company has a market capitalization of $3,233.09, a price-to-earnings 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. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.92.

South State (NASDAQ:SSB) last released its earnings results on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. The company had revenue of $136.36 million during the quarter, compared to analysts’ expectations of $139.85 million. South State had a return on equity of 8.85% and a net margin of 20.48%. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. sell-side analysts predict that South State will post 4.72 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 10th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.51%. South State’s dividend payout ratio (DPR) is presently 33.85%.

In other South State news, CEO Robert R. Hill, Jr. sold 13,024 shares of South State stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $91.85, for a total transaction of $1,196,254.40. Following the transaction, the chief executive officer now directly owns 133,121 shares in the company, valued at $12,227,163.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joe E. Burns sold 6,548 shares of South State stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $92.39, for a total value of $604,969.72. Following the transaction, the insider now owns 37,595 shares in the company, valued at $3,473,402.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,620 shares of company stock worth $6,611,006. Corporate insiders own 2.78% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SSB. Bank of Montreal Can lifted its holdings in South State by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after acquiring an additional 34 shares in the last quarter. Aperio Group LLC bought a new position in South State during the second quarter worth about $260,000. Strs Ohio lifted its holdings in South State by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock worth $154,000 after acquiring an additional 500 shares in the last quarter. First Trust Advisors LP lifted its holdings in South State by 2.6% during the second quarter. First Trust Advisors LP now owns 90,573 shares of the bank’s stock worth $7,762,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of South State by 9.1% in the second quarter. Rhumbline Advisers now owns 36,370 shares of the bank’s stock valued at $3,117,000 after purchasing an additional 3,033 shares in the last quarter. Hedge funds and other institutional investors own 55.76% of the company’s stock.

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About South State

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)

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