Zacks Investment Research lowered shares of South State (NASDAQ:SSB) from a hold rating to a sell rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “South State Corporation is a bank holding company for South State Bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. It offers demand, time and savings deposits, lending and credit card servicing; automated teller machine processing; and wealth management and trust services. South State Corporation, formerly known as First Financial Holdings, Inc., is headquartered in South Carolina. “

SSB has been the subject of several other research reports. Brean Capital reaffirmed a hold rating on shares of South State in a research note on Tuesday, January 22nd. BidaskClub raised South State from a sell rating to a hold rating in a research note on Friday, March 1st. Finally, TheStreet raised South State from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Three 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’s stock. South State currently has an average rating of Hold and a consensus target price of $77.20.

NASDAQ:SSB opened at $72.80 on Tuesday. South State has a 1 year low of $56.55 and a 1 year high of $93.25. The firm has a market capitalization of $2.57 billion, a PE ratio of 13.24 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

South State (NASDAQ:SSB) last announced its earnings results on Monday, January 28th. The bank reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.03. South State had a return on equity of 8.59% and a net margin of 24.99%. The business had revenue of $162.03 million during the quarter, compared to analysts’ expectations of $160.79 million. During the same quarter last year, the business posted $1.30 earnings per share. As a group, sell-side analysts predict that South State will post 5.39 earnings per share for the current year.

In other news, insider Keith S. Rainwater sold 500 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $71.00, for a total transaction of $35,500.00. Following the completion of the sale, the insider now directly owns 6,146 shares of the company’s stock, valued at $436,366. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert R. Hill, Jr. sold 9,892 shares of the company’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $67.00, for a total value of $662,764.00. The disclosure for this sale can be found here. Insiders have sold 14,339 shares of company stock valued at $978,540 in the last ninety days. Company insiders own 2.05% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its holdings in shares of South State by 1.5% during the third quarter. Vanguard Group Inc now owns 3,214,729 shares of the bank’s stock valued at $263,609,000 after purchasing an additional 47,669 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of South State by 1.5% during the third quarter. Vanguard Group Inc. now owns 3,214,729 shares of the bank’s stock valued at $263,609,000 after purchasing an additional 47,669 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of South State by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,575,107 shares of the bank’s stock valued at $94,428,000 after purchasing an additional 103,151 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of South State by 2.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,173,022 shares of the bank’s stock valued at $70,323,000 after purchasing an additional 23,175 shares during the last quarter. Finally, Fenimore Asset Management Inc. lifted its holdings in shares of South State by 1.9% during the first quarter. Fenimore Asset Management Inc. now owns 892,968 shares of the bank’s stock valued at $61,025,000 after purchasing an additional 16,280 shares during the last quarter. 78.55% of the stock is owned by institutional investors and hedge funds.

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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