Wall Street analysts expect South State Co. (NASDAQ:SSB) to report $359.90 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for South State’s earnings. The highest sales estimate is $370.80 million and the lowest is $353.50 million. South State reported sales of $216.90 million in the same quarter last year, which suggests a positive year over year growth rate of 65.9%. The firm is scheduled to report its next earnings report on Thursday, July 29th.
According to Zacks, analysts expect that South State will report full-year sales of $1.44 billion for the current fiscal year, with estimates ranging from $1.42 billion to $1.45 billion. For the next financial year, analysts anticipate that the business will report sales of $1.41 billion, with estimates ranging from $1.40 billion to $1.42 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts 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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.75. South State had a return on equity of 8.88% and a net margin of 17.34%. The business had revenue of $358.28 million during the quarter, compared to analyst estimates of $360.90 million. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 108.1% compared to the same quarter last year.
Shares of NASDAQ:SSB traded down $1.40 during trading hours on Friday, hitting $85.45. 226,616 shares of the company’s stock traded hands, compared to its average volume of 322,587. South State has a 1 year low of $42.75 and a 1 year high of $93.26. The firm has a fifty day simple moving average of $85.20. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 32.77 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 21st. Investors of record on Friday, May 14th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Thursday, May 13th. South State’s dividend payout ratio (DPR) is 36.72%.
In related news, EVP John C. Pollok sold 12,387 shares of the business’s stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $91.76, for a total value of $1,136,631.12. Also, Chairman Robert R. Hill, Jr. sold 4,000 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $90.34, for a total value of $361,360.00. Insiders sold 32,358 shares of company stock valued at $2,913,977 in the last three months. 1.79% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund increased its position in shares of South State by 8.5% during the fourth quarter. New York State Common Retirement Fund now owns 402,071 shares of the bank’s stock worth $29,070,000 after purchasing an additional 31,364 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of South State by 5.6% during the first quarter. The Manufacturers Life Insurance Company now owns 320,826 shares of the bank’s stock worth $25,188,000 after purchasing an additional 16,971 shares in the last quarter. ProShare Advisors LLC increased its position in shares of South State by 80.6% during the fourth quarter. ProShare Advisors LLC now owns 15,500 shares of the bank’s stock worth $1,121,000 after purchasing an additional 6,917 shares in the last quarter. Swiss National Bank increased its position in shares of South State by 1.1% during the first quarter. Swiss National Bank now owns 162,037 shares of the bank’s stock worth $12,722,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Forest Hill Capital LLC acquired a new position in shares of South State during the fourth quarter worth $2,978,000. 79.58% of the stock is currently owned by institutional investors and hedge funds.
South State Company Profile
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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