Equities research analysts predict that South State Co. (NASDAQ:SSB) will announce earnings of $1.60 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for South State’s earnings. The lowest EPS estimate is $1.42 and the highest is $1.96. South State reported earnings per share of $0.89 in the same quarter last year, which suggests a positive year-over-year growth rate of 79.8%. The business is expected to announce its next quarterly earnings report on Thursday, July 29th.
On average, analysts expect that South State will report full year earnings of $6.68 per share for the current year, with EPS estimates ranging from $5.87 to $7.63. For the next financial year, analysts anticipate that the firm will post earnings of $6.04 per share, with EPS estimates ranging from $5.85 to $6.40. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for South State.
South State (NASDAQ:SSB) last announced its earnings results on Wednesday, April 28th. The bank reported $2.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.75. The company had revenue of $358.28 million for the quarter, compared to analysts’ expectations of $360.90 million. South State had a return on equity of 8.88% and a net margin of 17.34%. South State’s revenue for the quarter was up 108.1% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS.
NASDAQ:SSB traded down $1.40 on Thursday, reaching $85.45. 226,616 shares of the company’s stock traded hands, compared to its average volume of 322,587. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s 50-day moving average is $85.20. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 32.77 and a beta of 1.11. South State has a 12 month low of $42.75 and a 12 month high of $93.26.
The company also recently announced a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Friday, May 14th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.88 annualized dividend and a dividend yield of 2.20%. South State’s dividend payout ratio (DPR) is 36.72%.
In other news, EVP John C. Pollok sold 12,387 shares of South State stock in a transaction dated Friday, March 12th. The stock was sold at an average price of $91.76, for a total value of $1,136,631.12. Also, Director Ernest S. Pinner sold 5,000 shares of South State stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $90.85, for a total value of $454,250.00. Following the completion of the sale, the director now directly owns 44,403 shares in the company, valued at $4,034,012.55. The disclosure for this sale can be found here. Insiders sold 32,358 shares of company stock worth $2,913,977 over the last ninety days. Insiders own 1.79% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSB. Kestra Advisory Services LLC purchased a new position in South State in the fourth quarter worth about $447,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in South State by 6.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,545 shares of the bank’s stock worth $618,000 after acquiring an additional 545 shares in the last quarter. Victory Capital Management Inc. grew its position in South State by 5.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,656,087 shares of the bank’s stock worth $119,735,000 after acquiring an additional 90,996 shares in the last quarter. California Public Employees Retirement System grew its position in South State by 7.8% in the fourth quarter. California Public Employees Retirement System now owns 172,141 shares of the bank’s stock worth $12,446,000 after acquiring an additional 12,528 shares in the last quarter. Finally, CIBC Asset Management Inc purchased a new position in South State in the fourth quarter worth about $220,000. Institutional investors own 79.58% 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 banking services and products. The company accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposits, and other time deposits. It also offers commercial real estate loans, residential real estate loans, commercial, and industrial loans, as well as consumer loans, including auto, boat, and personal installment loans.
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