South State (SSB) Gets a Hold Rating from Raymond James

In a report released today, Michael Rose from Raymond James maintained a Hold rating on South State (SSBResearch Report). The company’s shares closed last Friday at $68.62.

According to TipRanks.com, Rose is a 4-star analyst with an average return of 5.7% and a 47.9% success rate. Rose covers the Financial sector, focusing on stocks such as Atlantic Capital Bancshares, Pinnacle Financial Partners, and Texas Capital Bancshares.

Currently, the analyst consensus on South State is a Moderate Buy with an average price target of $95.50.

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Based on South State’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $358 million and net profit of $147 million. In comparison, last year the company earned revenue of $172 million and had a net profit of $24.11 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SSB in relation to earlier this year.

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South State Corp. is a bank holding company. It provides banking services and products to customers through its subsidiary. The company was founded on February 22, 1985 and is headquartered in Columbia, SC.