South State (NASDAQ:SSB) Upgraded to Hold by ValuEngine
Several other research analysts have also recently commented on SSB. Zacks Investment Research raised shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 31st. BidaskClub cut shares of Zebra Technologies from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Finally, SunTrust Banks raised their target price on shares of Mcdonald’s to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. South State presently has an average rating of “Hold” and a consensus price target of $78.40.
Shares of SSB traded up $0.72 during mid-day trading on Thursday, hitting $75.68. 147,470 shares of the company’s stock were exchanged, compared to its average volume of 166,999. South State has a 52 week low of $56.55 and a 52 week high of $90.80. The stock has a 50-day moving average of $72.22. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 13.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 0.99.
In other news, Director Robert H. Demere, Jr. purchased 3,000 shares of South State stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average price of $68.40 per share, for a total transaction of $205,200.00. Following the transaction, the director now owns 49,081 shares of the company’s stock, valued at approximately $3,357,140.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Cherry sold 1,785 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $75.96, for a total transaction of $135,588.60. Following the sale, the director now owns 7,000 shares in the company, valued at approximately $531,720. The disclosure for this sale can be found here. Company insiders own 2.05% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bremer Bank National Association acquired a new stake in shares of South State during the 1st quarter worth approximately $40,000. Synovus Financial Corp boosted its position in South State by 80.7% in the first quarter. Synovus Financial Corp now owns 1,245 shares of the bank’s stock valued at $85,000 after buying an additional 556 shares in the last quarter. ETF Managers Group LLC boosted its position in South State by 8.8% in the first quarter. ETF Managers Group LLC now owns 1,693 shares of the bank’s stock valued at $116,000 after buying an additional 137 shares in the last quarter. Advisor Group Inc. boosted its position in South State by 329.9% in the fourth quarter. Advisor Group Inc. now owns 2,592 shares of the bank’s stock valued at $156,000 after buying an additional 1,989 shares in the last quarter. Finally, Teton Advisors Inc. acquired a new stake in South State in the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 79.22% of the company’s stock.
About South State
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 services, 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, and ATM processing services.
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