Q4 2018 EPS Estimates for South State Co. (SSB) Raised by FIG Partners
South State Co. (NASDAQ:SSB) – Stock analysts at FIG Partners raised their Q4 2018 EPS estimates for shares of South State in a note issued to investors on Wednesday. FIG Partners analyst C. Marinac now expects that the bank will post earnings of $1.61 per share for the quarter, up from their previous estimate of $1.45. FIG Partners also issued estimates for South State’s Q2 2019 earnings at $1.64 EPS and FY2019 earnings at $6.45 EPS.
South State (NASDAQ:SSB) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.11. South State had a return on equity of 9.04% and a net margin of 15.22%. The company had revenue of $151.37 million for the quarter, compared to analyst estimates of $147.91 million. During the same quarter last year, the company posted $1.15 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year.
South State (NASDAQ:SSB) traded up $0.70 during midday trading on Friday, hitting $88.90. The company had a trading volume of 145,889 shares, compared to its average volume of 133,789. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.93. South State has a 52-week low of $78.60 and a 52-week high of $94.50. The stock has a market capitalization of $3,242.20, a price-to-earnings ratio of 29.83, a P/E/G ratio of 1.99 and a beta of 1.09.
A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in South State by 3.9% in the second quarter. Royal Bank of Canada now owns 3,945 shares of the bank’s stock valued at $337,000 after purchasing an additional 147 shares during the period. Roberts Glore & Co. Inc. IL lifted its position in South State by 6.6% in the second quarter. Roberts Glore & Co. Inc. IL now owns 2,440 shares of the bank’s stock valued at $209,000 after purchasing an additional 150 shares during the period. Ameritas Investment Partners Inc. lifted its position in South State by 15.2% in the second quarter. Ameritas Investment Partners Inc. now owns 2,537 shares of the bank’s stock valued at $217,000 after purchasing an additional 335 shares during the period. Amalgamated Bank lifted its position in South State by 12.1% in the second quarter. Amalgamated Bank now owns 3,601 shares of the bank’s stock valued at $309,000 after purchasing an additional 388 shares during the period. Finally, Bank of Montreal Can lifted its position in South State by 38.7% in the fourth quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock valued at $187,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 55.83% of the company’s stock.
In related news, Director James C. Cherry sold 16,255 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 23,007 shares in the company, valued at $2,047,853.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President John F. Windley sold 7,258 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $90.93, for a total transaction of $659,969.94. Following the completion of the sale, the president now owns 37,764 shares of the company’s stock, valued at approximately $3,433,880.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,796 shares of company stock worth $2,856,936. Corporate insiders own 2.78% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 9th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, February 8th. South State’s dividend payout ratio is currently 44.30%.
About South State
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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