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.

South State (NASDAQ:SSB) last issued its earnings results on Monday, January 28th. The bank reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $162.03 million during the quarter, compared to the consensus estimate of $160.79 million. South State had a return on equity of 8.59% and a net margin of 24.99%. During the same period in the previous year, the company posted $1.30 earnings per share. On average, research analysts anticipate that South State will post 5.39 earnings per share for the current year.

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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Analyst Recommendations for South State (NASDAQ:SSB)

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