Stephens analyst Tyler Stafford maintained a Sell rating on South State (SSB) yesterday and set a price target of $58. The company’s shares closed yesterday at $75.98.
Stafford commented:
“We maintain our Underweight rating given the current profitability profile, our view that Consensus estimates are notably too high, and its premium 14x valuation on 2020 EPS. See below for +/-.”
According to TipRanks.com, Stafford is a 4-star analyst with an average return of 6.2% and a 63.0% success rate. Stafford covers the Financial sector, focusing on stocks such as Capstar Financial Holdings Inc, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
Currently, the analyst consensus on South State is a Moderate Sell with an average price target of $58.
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Based on South State’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $49 million. In comparison, last year the company had a net profit of $42.33 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock.
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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.
