Somewhat Favorable Press Coverage Somewhat Unlikely to Affect South State (SSB) Share Price
Press coverage about South State (NASDAQ:SSB) has been trending somewhat positive on Wednesday, Accern Sentiment reports. Accern identifies positive and negative press coverage by monitoring more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. South State earned a news impact score of 0.09 on Accern’s scale. Accern also gave news stories about the bank an impact score of 45.414160207105 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Shares of SSB opened at $81.30 on Wednesday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.93 and a current ratio of 0.94. South State has a fifty-two week low of $80.50 and a fifty-two week high of $94.50.
South State (NASDAQ:SSB) last announced its quarterly earnings data on Monday, July 30th. The bank reported $1.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.04). The business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $177.03 million. South State had a return on equity of 8.41% and a net margin of 18.27%. South State’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS. equities analysts predict that South State will post 5.83 earnings per share for the current year.
SSB has been the topic of a number of recent research reports. Zacks Investment Research cut shares of South State from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. TheStreet upgraded shares of South State from a “c+” rating to an “a” rating in a report on Thursday, May 24th. BidaskClub cut shares of South State from a “hold” rating to a “sell” rating in a report on Wednesday, June 13th. Brean Capital restated a “hold” rating on shares of South State in a report on Tuesday, July 10th. Finally, FIG Partners cut shares of South State from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. South State currently has an average rating of “Hold” and an average price target of $93.20.
In other news, Director Martin Bernard Davis bought 1,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were purchased at an average price of $84.03 per share, for a total transaction of $84,030.00. Following the completion of the purchase, the director now owns 1,820 shares in the company, valued at approximately $152,934.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.96% 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.
Recommended Story: Average Daily Trade Volume – What You Need to Know
Receive News & Ratings for South State Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State and related companies with MarketBeat.com's FREE daily email newsletter.