South State (NASDAQ:SSB) issued its quarterly earnings results on Tuesday. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08, Bloomberg Earnings reports. The business had revenue of $151.37 million for the quarter, compared to the consensus estimate of $147.91 million. South State had a return on equity of 8.85% and a net margin of 20.48%. South State’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share.
South State (NASDAQ:SSB) opened at $90.30 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $3,320.00, a PE ratio of 23.15, a PEG ratio of 2.08 and a beta of 1.09. South State has a 12 month low of $78.60 and a 12 month high of $94.50.
SSB has been the subject of a number of research reports. Brean Capital reissued a “hold” rating on shares of South State in a research report on Monday, October 23rd. BidaskClub raised South State from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Zacks Investment Research cut South State from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. SunTrust Banks lifted their price objective on South State from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Piper Jaffray Companies reissued a “neutral” rating and set a $90.00 price objective on shares of South State in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. South State currently has an average rating of “Hold” and a consensus target price of $98.50.
In related news, President John F. Windley sold 7,258 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $90.93, for a total transaction of $659,969.94. Following the transaction, the president now directly owns 37,764 shares in the company, valued at $3,433,880.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James C. Cherry sold 16,255 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total value of $1,446,857.55. Following the transaction, the director now owns 23,007 shares in the company, valued at $2,047,853.07. The disclosure for this sale can be found here. Insiders sold 72,620 shares of company stock worth $6,611,006 over the last quarter. 2.78% of the stock is currently owned by corporate insiders.
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About South State
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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