Equities research analysts forecast that South State Corporation (NASDAQ:SSB) will report earnings of $1.20 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for South State Corporation’s earnings. The lowest EPS estimate is $1.19 and the highest is $1.20. South State Corporation reported earnings of $1.18 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The company is expected to report its next quarterly earnings report before the market opens on Tuesday, October 24th.

On average, analysts expect that South State Corporation will report full-year earnings of $4.72 per share for the current year. For the next year, analysts expect that the business will post earnings of $5.08 per share, with EPS estimates ranging from $5.00 to $5.15. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover South State Corporation.

South State Corporation (NASDAQ:SSB) last announced its quarterly earnings data on Friday, July 21st. The bank reported $1.18 earnings per share for the quarter, hitting the consensus estimate of $1.18. The company had revenue of $136.61 million during the quarter, compared to analyst estimates of $137.00 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%.

Several research firms recently weighed in on SSB. BidaskClub upgraded South State Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research raised shares of South State Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $96.50.

Shares of South State Corporation (NASDAQ:SSB) opened at 91.25 on Tuesday. The stock has a market capitalization of $2.66 billion, a PE ratio of 23.84 and a beta of 1.10. South State Corporation has a 52 week low of $70.75 and a 52 week high of $93.40. The company’s 50 day moving average is $83.08 and its 200-day moving average is $85.19.

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In related news, insider Joe E. Burns sold 500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total value of $41,695.00. Following the completion of the sale, the insider now directly owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $82.10, for a total transaction of $232,425.10. Following the completion of the sale, the chief executive officer now directly owns 140,215 shares of the company’s stock, valued at $11,511,651.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,581 shares of company stock worth $294,408. Corporate insiders own 2.78% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio lifted its holdings in shares of South State Corporation by 116.7% during the 1st quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $116,000 after purchasing an additional 700 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of South State Corporation by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock worth $132,000 after acquiring an additional 497 shares during the last quarter. Bank of Montreal Can grew its stake in shares of South State Corporation by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after acquiring an additional 34 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of South State Corporation by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock worth $135,000 after acquiring an additional 20 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of South State Corporation by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock worth $161,000 after acquiring an additional 614 shares during the last quarter. Institutional investors own 66.71% of the company’s stock.

About South State Corporation

South State Corporation (NASDAQ: SSB) is the largest bank holding company headquartered in South Carolina. Founded in 1933, the company’s primary subsidiary, South State Bank, has been serving the financial needs of its local communities in 19 South Carolina counties, 12 Georgia counties and 4 North Carolina counties for over 80 years.

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