South State Corporation (SSB) Receives News Sentiment Score of 0.14
Press coverage about South State Corporation (NASDAQ:SSB) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. South State Corporation earned a coverage optimism score of 0.14 on Accern’s scale. Accern also gave news stories about the bank an impact score of 45.6391738581401 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- IHS Markit Score Update: Drop in demand for ETFs holding South State Corp is a negative sign for its shares (finance.yahoo.com)
- See what the IHS Markit Score report has to say about South State Corp. (finance.yahoo.com)
- $139.85 Million in Sales Expected for South State Corporation (NASDAQ:SSB) This Quarter (americanbankingnews.com)
- Victory Capital Management Inc Increases Its Investment in South State Corporation (SSB) (highlightpress.com)
- Zacks: Analysts Expect South State Corporation (SSB) Will Post Earnings of $1.20 Per Share (americanbankingnews.com)
South State Corporation (SSB) traded down 1.76% during midday trading on Friday, hitting $81.10. The stock had a trading volume of 185,033 shares. South State Corporation has a 52 week low of $69.40 and a 52 week high of $93.40. The firm has a 50 day moving average of $84.45 and a 200 day moving average of $86.81. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 21.19 and a beta of 1.09.
South State Corporation (NASDAQ:SSB) last released its quarterly earnings data on Friday, July 21st. The bank reported $1.18 EPS for the quarter, meeting the consensus estimate of $1.18. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%. The company had revenue of $136.61 million for the quarter, compared to analysts’ expectations of $137 million. Equities research analysts predict that South State Corporation will post $4.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Friday, August 11th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.63%. South State Corporation’s dividend payout ratio (DPR) is presently 34.11%.
SSB has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of South State Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 4th. BidaskClub downgraded shares of South State Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Brean Capital reaffirmed a “hold” rating on shares of South State Corporation in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods raised shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 25th. Finally, Stephens reaffirmed a “hold” rating on shares of South State Corporation in a report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $96.50.
In other South State Corporation news, insider Joe E. Burns sold 1,950 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.00, for a total value of $165,750.00. Following the transaction, the insider now directly owns 42,795 shares of the company’s stock, valued at $3,637,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert R. Horger sold 1,788 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $85.20, for a total value of $152,337.60. Following the completion of the transaction, the director now directly owns 96,336 shares in the company, valued at $8,207,827.20. The disclosure for this sale can be found here. Insiders sold 9,765 shares of company stock worth $832,259 over the last three months. Insiders own 2.78% of the company’s stock.
About South State Corporation
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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