Favorable Media Coverage Somewhat Unlikely to Affect South State (SSB) Share Price
Headlines about South State (NASDAQ:SSB) have trended positive on Tuesday, according to Accern Sentiment. The research firm identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. South State earned a daily sentiment score of 0.27 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 46.216264877758 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the news headlines that may have effected Accern’s scoring:
- South State (SSB) Stock Rating Reaffirmed by Brean Capital (americanbankingnews.com)
- South State Corporation Reports 2017 Results and Quarterly Cash Dividend (finance.yahoo.com)
- South State (SSB) Announces Quarterly Earnings Results, Beats Expectations By $0.08 EPS (americanbankingnews.com)
- South State Co. (SSB) Given Consensus Rating of “Hold” by Brokerages (americanbankingnews.com)
- $150.10 Million in Sales Expected for South State Co. (SSB) This Quarter (americanbankingnews.com)
A number of equities research analysts have recently weighed in on SSB shares. BidaskClub lowered South State from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Brean Capital reissued a “hold” rating on shares of South State in a research note on Monday, October 30th. SunTrust Banks reissued a “buy” rating and issued a $98.00 target price on shares of South State in a research note on Thursday, October 12th. Finally, Zacks Investment Research raised South State from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $98.50.
South State (NASDAQ:SSB) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $151.37 million during the quarter, compared to analyst estimates of $147.91 million. South State had a return on equity of 8.85% and a net margin of 20.48%. South State’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. analysts anticipate that South State will post 4.7 earnings per share for the current fiscal year.
In other South State news, insider Joe E. Burns sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $92.39, for a total transaction of $604,969.72. Following the completion of the transaction, the insider now owns 37,595 shares of the company’s stock, valued at approximately $3,473,402.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total value of $1,446,857.55. Following the transaction, the director now directly owns 23,007 shares of the company’s stock, valued at approximately $2,047,853.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,620 shares of company stock valued at $6,611,006 in the last ninety days. 2.78% of the stock is currently owned by corporate insiders.
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South State Company Profile
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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