South State Bank (NASDAQ:SSB) – Piper Jaffray boosted their Q3 2018 earnings per share (EPS) estimates for South State Bank in a research note issued on Thursday, April 26th. Piper Jaffray analyst W. Curtiss now forecasts that the bank will post earnings of $1.47 per share for the quarter, up from their prior estimate of $1.46. Piper Jaffray also issued estimates for South State Bank’s Q4 2018 earnings at $1.51 EPS, Q1 2019 earnings at $1.45 EPS, Q2 2019 earnings at $1.53 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.64 EPS and FY2019 earnings at $6.22 EPS.

South State Bank (NASDAQ:SSB) last released its quarterly earnings results on Tuesday, April 24th. The bank reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.10. The business had revenue of $172.50 million during the quarter, compared to analyst estimates of $173.68 million. South State Bank had a net margin of 18.02% and a return on equity of 8.81%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share.

Several other research firms have also commented on SSB. Brean Capital reissued a “hold” rating on shares of South State Bank in a research report on Monday, April 16th. Sandler O’Neill set a $94.00 price target on shares of South State Bank and gave the company a “hold” rating in a research report on Wednesday, March 28th. Zacks Investment Research lowered shares of South State Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. SunTrust Banks reissued a “buy” rating and set a $108.00 price target on shares of South State Bank in a research report on Wednesday, January 24th. Finally, BidaskClub lowered shares of South State Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. South State Bank has a consensus rating of “Hold” and an average target price of $98.20.

SSB stock opened at $88.00 on Friday. The stock has a market cap of $3,176.39, a price-to-earnings ratio of 18.13, a PEG ratio of 1.83 and a beta of 1.01. South State Bank has a one year low of $78.60 and a one year high of $94.50. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.09.

Institutional investors have recently made changes to their positions in the stock. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of South State Bank in the 4th quarter valued at approximately $1,891,000. Wells Fargo & Company MN raised its position in shares of South State Bank by 50.1% in the 4th quarter. Wells Fargo & Company MN now owns 143,081 shares of the bank’s stock valued at $12,469,000 after purchasing an additional 47,748 shares during the last quarter. FDx Advisors Inc. purchased a new position in shares of South State Bank in the 4th quarter valued at approximately $306,000. Alliancebernstein L.P. raised its position in shares of South State Bank by 19.3% in the 4th quarter. Alliancebernstein L.P. now owns 51,068 shares of the bank’s stock valued at $4,451,000 after purchasing an additional 8,260 shares during the last quarter. Finally, BRYN MAWR TRUST Co raised its position in shares of South State Bank by 48.0% in the 4th quarter. BRYN MAWR TRUST Co now owns 91,625 shares of the bank’s stock valued at $7,985,000 after purchasing an additional 29,714 shares during the last quarter. 72.44% of the stock is owned by hedge funds and other institutional investors.

In related news, Director James C. Cherry sold 11,507 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $88.52, for a total value of $1,018,599.64. Following the completion of the transaction, the director now directly owns 11,500 shares of the company’s stock, valued at approximately $1,017,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert R. Hill, Jr. sold 8,878 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $89.12, for a total transaction of $791,207.36. Following the completion of the transaction, the chief executive officer now directly owns 110,441 shares of the company’s stock, valued at $9,842,501.92. The disclosure for this sale can be found here. Insiders sold a total of 32,252 shares of company stock valued at $2,887,856 over the last ninety days. 1.96% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Investors of record on Friday, May 11th will be given a $0.34 dividend. This is a positive change from South State Bank’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, May 10th. South State Bank’s dividend payout ratio (DPR) is presently 27.22%.

South State Bank 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.

Earnings History and Estimates for South State Bank (NASDAQ:SSB)

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