Equities analysts predict that South State Corp (NASDAQ:SSB) will report $159.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for South State’s earnings, with the highest sales estimate coming in at $160.70 million and the lowest estimate coming in at $158.60 million. South State posted sales of $155.33 million during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The business is expected to report its next quarterly earnings results on Monday, May 4th.
According to Zacks, analysts expect that South State will report full-year sales of $1.04 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.05 billion. For the next year, analysts expect that the firm will post sales of $1.47 billion, with estimates ranging from $1.45 billion to $1.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover South State.
South State (NASDAQ:SSB) last announced its earnings results on Monday, January 27th. The bank reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. South State had a net margin of 25.39% and a return on equity of 8.27%. The company had revenue of $162.76 million during the quarter, compared to analyst estimates of $162.15 million. During the same period in the previous year, the business earned $1.35 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of SSB. Goldman Sachs Group Inc. boosted its position in South State by 10.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 854,984 shares of the bank’s stock valued at $74,170,000 after buying an additional 78,822 shares during the period. Victory Capital Management Inc. boosted its position in South State by 6.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,276,355 shares of the bank’s stock valued at $110,724,000 after buying an additional 75,635 shares during the period. Earnest Partners LLC boosted its position in South State by 6.3% during the fourth quarter. Earnest Partners LLC now owns 1,083,325 shares of the bank’s stock valued at $93,978,000 after buying an additional 63,933 shares during the period. Great Lakes Advisors LLC purchased a new stake in South State during the third quarter valued at about $4,257,000. Finally, Barclays PLC boosted its position in South State by 155.2% during the fourth quarter. Barclays PLC now owns 55,450 shares of the bank’s stock valued at $4,812,000 after buying an additional 33,724 shares during the period. Institutional investors and hedge funds own 79.50% of the company’s stock.
NASDAQ:SSB traded down $0.82 during midday trading on Monday, hitting $77.00. The company had a trading volume of 315,072 shares, compared to its average volume of 243,949. South State has a 52-week low of $63.91 and a 52-week high of $88.10. The stock’s fifty day moving average price is $81.50 and its 200-day moving average price is $79.78. The company has a market capitalization of $2.63 billion, a PE ratio of 14.34 and a beta of 1.34. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.35.
The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 7th were given a $0.47 dividend. The ex-dividend date was Thursday, February 6th. This is a positive change from South State’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 2.44%. South State’s payout ratio is 33.39%.
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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