BidaskClub downgraded shares of South State (NASDAQ:SSB) from a hold rating to a sell rating in a report issued on Friday morning.

Several other research analysts also recently weighed in on the stock. Brean Capital reissued a hold rating on shares of South State in a research note on Sunday, September 30th. Zacks Investment Research raised shares of South State from a sell rating to a hold rating in a research note on Friday, September 28th. Keefe, Bruyette & Woods reissued a hold rating and issued a $90.00 target price on shares of South State in a research note on Monday, August 6th. Sandler O’Neill reissued a hold rating and issued a $81.00 target price on shares of South State in a research note on Thursday, August 2nd. Finally, ValuEngine downgraded shares of South State from a hold rating to a sell rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. South State has a consensus rating of Hold and an average price target of $94.00.

NASDAQ:SSB opened at $73.13 on Friday. The firm has a market cap of $2.76 billion, a PE ratio of 15.08, a PEG ratio of 1.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.94 and a quick ratio of 0.93. South State has a 52-week low of $72.71 and a 52-week high of $94.50.

South State (NASDAQ:SSB) last released its quarterly earnings results on Monday, October 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). South State had a return on equity of 8.41% and a net margin of 18.27%. During the same period last year, the company posted $1.22 EPS. On average, analysts expect that South State will post 5.72 EPS for the current fiscal year.

In other news, Director Martin Bernard Davis bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was acquired at an average price of $84.03 per share, for a total transaction of $84,030.00. Following the acquisition, the director now owns 1,820 shares of the company’s stock, valued at $152,934.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.96% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG boosted its holdings in South State by 109.3% in the 1st quarter. UBS Group AG now owns 1,877 shares of the bank’s stock worth $160,000 after acquiring an additional 980 shares during the period. Sei Investments Co. boosted its holdings in South State by 130.7% in the 1st quarter. Sei Investments Co. now owns 2,581 shares of the bank’s stock worth $220,000 after acquiring an additional 1,462 shares during the period. Stevens Capital Management LP purchased a new position in South State in the 2nd quarter worth approximately $232,000. LPL Financial LLC boosted its stake 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 valued at $366,000 after buying an additional 605 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its stake 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 valued at $431,000 after buying an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 72.94% 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.

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Analyst Recommendations for South State (NASDAQ:SSB)

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