South State Corporation (SSB) Earning Somewhat Positive News Coverage, Analysis Finds
News articles about South State Corporation (NASDAQ:SSB) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. South State Corporation earned a media sentiment score of 0.06 on Accern’s scale. Accern also gave headlines about the bank an impact score of 45.6931983997849 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment’s analysis:
- South State Corporation (SSB) Rating Increased to Hold at BidaskClub (americanbankingnews.com)
- South State Corp. breached its 50 day moving average in a Bearish Manner : SSB-US : September 15, 2017 (finance.yahoo.com)
- $139.85 Million in Sales Expected for South State Corporation (SSB) This Quarter (americanbankingnews.com)
- Financial Survey: South State Corporation (SSB) versus Bay Banks of Virginia (BAYK) (americanbankingnews.com)
- ETFs with exposure to South State Corp. : September 14, 2017 (finance.yahoo.com)
South State Corporation (SSB) opened at 80.95 on Friday. The stock has a market capitalization of $2.36 billion, a PE ratio of 21.15 and a beta of 1.08. South State Corporation has a 1-year low of $70.75 and a 1-year high of $93.40. The company’s 50 day moving average is $82.10 and its 200-day moving average is $85.57.
South State Corporation (NASDAQ:SSB) last released its quarterly earnings data on Friday, July 21st. The bank reported $1.18 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.18. South State Corporation had a net margin of 20.00% and a return on equity of 9.15%. The firm had revenue of $136.61 million during the quarter, compared to analysts’ expectations of $137.00 million. Analysts forecast that South State Corporation will post $4.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.63%. The ex-dividend date was Wednesday, August 9th. South State Corporation’s payout ratio is currently 34.11%.
A number of equities analysts recently commented on SSB shares. BidaskClub raised shares of South State Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research raised shares of South State Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. Brean Capital reaffirmed a “hold” rating on shares of South State Corporation in a research note on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods raised shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $96.50.
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In other South State Corporation news, insider Joe E. Burns sold 500 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total transaction of $41,695.00. Following the completion of the transaction, the insider now owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $82.10, for a total transaction of $232,425.10. Following the transaction, the chief executive officer now directly owns 140,215 shares of the company’s stock, valued at approximately $11,511,651.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,581 shares of company stock valued at $294,408. 2.78% of the stock is owned by company insiders.
South State Corporation Company Profile
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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