South State (NASDAQ:SSB) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

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.

South State (NASDAQ:SSB) last announced its earnings results on Monday, April 29th. The bank reported $1.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.26. South State had a net margin of 25.49% and a return on equity of 8.27%. The company had revenue of $155.33 million for the quarter, compared to analysts’ expectations of $158.86 million. During the same period last year, the firm earned $1.39 earnings per share. Sell-side analysts forecast that South State will post 5.33 earnings per share for the current year.

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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Analyst Recommendations for South State (NASDAQ:SSB)

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