South State (SSB) Upgraded to Hold at BidaskClub
South State (NASDAQ:SSB) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
A number of other equities research analysts also recently weighed in on the company. TheStreet upgraded South State from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Brean Capital reiterated a “hold” rating on shares of South State in a report on Monday, January 28th. Finally, Stephens reiterated a “sell” rating and issued a $57.00 target price on shares of South State in a report on Friday, December 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $80.80.
Shares of SSB stock opened at $68.89 on Wednesday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.53 and a beta of 1.23. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. South State has a fifty-two week low of $56.55 and a fifty-two week high of $93.25.
In other news, President John F. Windley sold 3,947 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $71.01, for a total transaction of $280,276.47. Following the completion of the sale, the president now owns 39,021 shares in the company, valued at $2,770,881.21. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert R. Hill, Jr. sold 9,892 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $67.00, for a total value of $662,764.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,339 shares of company stock valued at $978,540. Corporate insiders own 2.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new stake in shares of South State during the fourth quarter valued at approximately $26,000. FTB Advisors Inc. purchased a new position in shares of South State during the fourth quarter valued at approximately $31,000. Bremer Trust National Association purchased a new position in shares of South State during the fourth quarter valued at approximately $32,000. Capital Investment Advisory Services LLC purchased a new position in shares of South State during the fourth quarter valued at approximately $79,000. Finally, Huntington National Bank boosted its position in shares of South State by 65.2% during the fourth quarter. Huntington National Bank now owns 1,469 shares of the bank’s stock valued at $88,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 78.00% 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, 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, ATM processing, and wealth management and trust services.
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