South State (NASDAQ:SSB) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

A number of other research analysts also recently commented on SSB. Brean Capital reissued a “hold” rating on shares of South State in a report on Monday, August 27th. Stephens reissued a “hold” rating and issued a $95.00 price target on shares of South State in a report on Tuesday, October 23rd. ValuEngine downgraded South State from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Sandler O’Neill reissued a “hold” rating and issued a $81.00 price target on shares of South State in a report on Thursday, August 2nd. Finally, SunTrust Banks reduced their target price on South State to $79.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $88.40.

Shares of SSB opened at $63.78 on Friday. The stock has a market capitalization of $2.35 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. South State has a one year low of $61.26 and a one year high of $94.50. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.05.

South State (NASDAQ:SSB) last issued its quarterly earnings results on Monday, October 22nd. The bank reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The business had revenue of $160.32 million during the quarter, compared to analysts’ expectations of $167.07 million. South State had a net margin of 19.08% and a return on equity of 8.35%. During the same period in the prior year, the company posted $1.22 EPS. On average, research analysts anticipate that South State will post 5.72 EPS for the current year.

In related news, Director Robert H. Demere, Jr. purchased 2,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $63.12 per share, for a total transaction of $126,240.00. Following the transaction, the director now owns 44,360 shares of the company’s stock, valued at $2,800,003.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Bernard Davis purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were bought at an average price of $84.03 per share, for a total transaction of $84,030.00. Following the completion of the transaction, the director now directly owns 1,820 shares in the company, valued at approximately $152,934.60. The disclosure for this purchase can be found here. Company insiders own 1.96% of the company’s stock.

Several institutional investors have recently made changes to their positions in SSB. UBS Group AG raised its position in shares of South State by 109.3% during the 1st quarter. UBS Group AG now owns 1,877 shares of the bank’s stock worth $160,000 after purchasing an additional 980 shares during the period. Sei Investments Co. raised its position in shares of South State by 130.7% during the 1st quarter. Sei Investments Co. now owns 2,581 shares of the bank’s stock worth $220,000 after purchasing an additional 1,462 shares during the period. Stevens Capital Management LP acquired a new stake in shares of South State during the 2nd quarter worth approximately $232,000. LPL Financial LLC raised its position in shares of South State by 16.4% during the 1st quarter. LPL Financial LLC now owns 4,294 shares of the bank’s stock worth $366,000 after purchasing an additional 605 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in shares of South State by 46.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,051 shares of the bank’s stock worth $431,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 72.94% of the company’s stock.

South State Company Profile

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.

Featured Story: Understanding Compound Annual Growth Rate (CAGR)

Analyst Recommendations for South State (NASDAQ:SSB)

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.