Rating Reporting: Will KBW Downgrade Harm South State Corp (NASDAQ:SSB) Stock Price Today?

November 29, 2016 - By Vivian Park

Rating Reporting: Will KBW Downgrade Harm South State Corp (NASDAQ:SSB) Stock Price Today?

South State Corp (NASDAQ:SSB) Downgrade

In a a report published on 29 November, KBW stated it was downgrading South State Corp (NASDAQ:SSB) stock rating from a “Outperform” to a “Mkt Perform”.

South State Corporation (NASDAQ:SSB) Ratings Coverage

Out of 4 analysts covering South State Corp (NASDAQ:SSB), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $82 is the highest target while $78 is the lowest. The $80 average target is -6.04% below today’s ($85.14) stock price. South State Corp has been the topic of 5 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Wood given on Monday, June 20. FIG Partners upgraded South State Corporation (NASDAQ:SSB) on Monday, January 25 to “Outperform” rating. Piper Jaffray initiated it with “Neutral” rating and $82 target price in Monday, September 21 report. Stephens initiated South State Corporation (NASDAQ:SSB) on Wednesday, December 2 with “Equal-Weight” rating.

About 87,821 shares traded hands. South State Corporation (NASDAQ:SSB) has risen 19.12% since April 26, 2016 and is uptrending. It has outperformed by 13.86% the S&P500.

Analysts await South State Corporation (NASDAQ:SSB) to report earnings on January, 27. They expect $1.15 EPS, up 3.60% or $0.04 from last year’s $1.11 per share. SSB’s profit will be $27.69M for 18.51 P/E if the $1.15 EPS becomes a reality. After $1.18 actual EPS reported by South State Corporation for the previous quarter, Wall Street now forecasts -2.54% negative EPS growth.

According to Zacks Investment Research, “South State Corporation is a bank holding company for South State Bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. It offers demand, time and savings deposits, lending and credit card servicing; automated teller machine processing; and wealth management and trust services. South State Corporation, formerly known as First Financial Holdings, Inc., is headquartered in South Carolina.”

SSB Company Profile

South State Corporation (South State), formerly First Financial Holdings, Inc., incorporated on February 22, 1985, is a bank holding company. The Firm provides a range of banking services and products to its clients through its bank subsidiary, South State Bank (the Bank), a South Carolina-chartered commercial bank. The Bank provides a range of retail and commercial banking services, mortgage lending services, trust and investment services, and consumer finance loans. The Firm serves clients and conducts its business from over 120 financial centers in over 20 South Carolina counties, over four North Carolina counties, over 10 northeast Georgia counties and approximately two coastal Georgia counties. Through the Bank, the Company provides its clients with checking accounts, Negotiable Order of Withdrawal (NOW) accounts, savings and time deposits of various types, brokerage services and alternative investment products, such as annuities and mutual funds, trust and asset management services, business loans, agriculture loans, real estate loans, personal use loans, home improvement loans, automobile loans, credit cards, letters of credit, home equity lines of credit, safe deposit boxes, bank money orders, wire transfer services, correspondent banking services and use of automated teller machine (ATM) facilities.

More news for South State Corporation (NASDAQ:SSB) were recently published by: Nasdaq.com, which released: “5 Reasons to Buy South State Corp. (SSB) Stock Now” on November 15, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: South State, Charles Schwab and Great Western Bancorp” and published on August 08, 2016 is yet another important article.

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