South State (NASDAQ:SSB) Issues Earnings Results, Beats Expectations By $0.05 EPS

South State (NASDAQ:SSB) announced its quarterly earnings results on Monday. The bank reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05, Fidelity Earnings reports. South State had a return on equity of 8.22% and a net margin of 25.53%. The company had revenue of $162.76 million during the quarter, compared to analyst estimates of $162.15 million. During the same quarter last year, the firm posted $1.35 earnings per share.

SSB traded down $0.97 during trading on Tuesday, reaching $78.72. The stock had a trading volume of 5,451 shares, compared to its average volume of 113,597. The stock’s 50 day moving average is $86.10 and its two-hundred day moving average is $79.54. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 14.88 and a beta of 1.36. South State has a one year low of $63.91 and a one year high of $88.10.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 7th will be issued a $0.47 dividend. This is an increase from South State’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, February 6th. This represents a $1.88 dividend on an annualized basis and a yield of 2.39%. South State’s dividend payout ratio is 33.45%.

In other South State news, insider Keith S. Rainwater sold 519 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $82.00, for a total value of $42,558.00. Following the completion of the transaction, the insider now owns 6,211 shares in the company, valued at $509,302. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.05% of the stock is currently owned by corporate insiders.

SSB has been the subject of a number of research analyst reports. Stephens raised South State from an “underweight” rating to an “equal weight” rating in a research note on Monday, November 4th. BidaskClub lowered South State from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. ValuEngine raised South State from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, SunTrust Banks raised their price target on South State from $90.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. South State has an average rating of “Hold” and an average target price of $79.67.

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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Earnings History for South State (NASDAQ:SSB)

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