Media headlines about South State (NASDAQ:SSB) have trended positive this week, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. South State earned a media sentiment score of 0.28 on Accern’s scale. Accern also assigned news stories about the bank an impact score of 46.2389235729974 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:
- NPA seeks to recover R50bn in assets related to state capture (moneyweb.co.za)
- Report: Kentucky defensive staffer John Jancek to become Colorado State DC (seccountry.com)
- R50-billion: The price state capture crooks will have to pay (timeslive.co.za)
- Five premium writers on the state of SA after Ramaphosa’s victory (businesslive.co.za)
- South State (SSB) Scheduled to Post Quarterly Earnings on Tuesday (americanbankingnews.com)
Several equities analysts have recently issued reports on the company. Brean Capital reissued a “hold” rating on shares of South State in a report on Wednesday, December 6th. BidaskClub cut South State from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. SunTrust Banks restated a “buy” rating and issued a $107.00 price target on shares of South State in a research note on Wednesday, November 29th. Piper Jaffray Companies restated a “neutral” rating and issued a $90.00 price target on shares of South State in a research note on Thursday, October 5th. Finally, Zacks Investment Research lowered South State from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $98.50.
South State (NASDAQ:SSB) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. South State had a return on equity of 8.85% and a net margin of 20.48%. The company had revenue of $136.36 million during the quarter, compared to analyst estimates of $139.85 million. During the same period in the previous year, the business earned $1.18 EPS. South State’s quarterly revenue was up 17.0% on a year-over-year basis. equities analysts anticipate that South State will post 4.72 earnings per share for the current year.
In related news, Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was 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 in the company, valued at $2,047,853.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joe E. Burns sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $92.39, for a total value of $604,969.72. Following the completion of the transaction, the insider now owns 37,595 shares in the company, valued at $3,473,402.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,620 shares of company stock worth $6,611,006. Insiders own 2.78% of the company’s stock.
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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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