Wall Street analysts expect that South State Corp (NASDAQ:SSB) will report $164.70 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for South State’s earnings, with estimates ranging from $164.40 million to $165.00 million. South State reported sales of $160.32 million during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The company is scheduled to report its next earnings results on Monday, October 28th.
On average, analysts expect that South State will report full-year sales of $647.60 million for the current year, with estimates ranging from $647.20 million to $648.00 million. For the next financial year, analysts expect that the business will report sales of $665.45 million, with estimates ranging from $663.90 million to $667.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for South State.
South State (NASDAQ:SSB) last posted its quarterly earnings data on Monday, July 29th. The bank reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.08. The business had revenue of $164.80 million during the quarter, compared to the consensus estimate of $159.75 million. South State had a net margin of 25.33% and a return on equity of 8.11%. During the same quarter in the prior year, the company posted $1.43 earnings per share.
SSB stock traded up $0.22 during trading on Tuesday, hitting $77.77. The company had a trading volume of 123,394 shares, compared to its average volume of 129,816. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.14 and a beta of 1.35. The business has a 50 day moving average of $75.05 and a 200 day moving average of $72.62. South State has a fifty-two week low of $56.55 and a fifty-two week high of $85.50. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.21%. This is an increase from South State’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, August 8th. South State’s dividend payout ratio is presently 31.27%.
In other South State news, CFO John C. Pollok sold 7,434 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $75.00, for a total transaction of $557,550.00. Following the sale, the chief financial officer now owns 99,346 shares in the company, valued at approximately $7,450,950. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert R. Horger sold 8,339 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $75.00, for a total value of $625,425.00. Following the sale, the director now owns 75,231 shares in the company, valued at approximately $5,642,325. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SSB. ETF Managers Group LLC grew its stake in shares of South State by 8.8% in the 1st quarter. ETF Managers Group LLC now owns 1,693 shares of the bank’s stock valued at $116,000 after buying an additional 137 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of South State by 35.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 763 shares of the bank’s stock valued at $57,000 after buying an additional 201 shares in the last quarter. Holocene Advisors LP grew its stake in shares of South State by 7.0% in the 2nd quarter. Holocene Advisors LP now owns 5,450 shares of the bank’s stock valued at $402,000 after buying an additional 357 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in shares of South State by 2.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 20,884 shares of the bank’s stock valued at $1,538,000 after buying an additional 517 shares in the last quarter. Finally, Bremer Bank National Association bought a new stake in shares of South State in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.29% of the company’s stock.
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 services, 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, and ATM processing services.
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