NasdaqGS:SSB

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Flawless balance sheet with proven track record and pays a dividend.

Risks

  • South State is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has South State's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.9%

NasdaqGS:SSB

-1.1%

US Banks

-1.2%

US Market


1 Year Return

-15.3%

NasdaqGS:SSB

-6.5%

US Banks

3.4%

US Market

SSB underperformed the Banks industry which returned -5.7% over the past year.

SSB underperformed the Market in United States of America which returned 3.9% over the past year.


Share holder returns

SSBIndustryMarket
7 Day-0.9%-1.1%-1.2%
30 Day3.3%2.8%1.2%
90 Day3.9%-0.5%1.7%
1 Year-13.6%-15.3%-3.9%-6.5%5.7%3.4%
3 Year5.3%0%55.7%45.1%45.0%35.5%
5 Year40.9%29.9%63.0%45.5%59.3%41.6%

Price Volatility Vs. Market

How volatile is South State's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is South State undervalued based on future cash flows and its price relative to the stock market?

15.15x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

South State's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

South State's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

South State is overvalued based on earnings compared to the US Banks industry average.

South State is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

South State is poor value based on expected growth next year.


Price Based on Value of Assets

South State is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is South State expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

South State's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).

South State's earnings are expected to grow by 0.8% yearly, however this is not considered high growth (20% yearly).

South State's revenue growth is positive but not above the United States of America market average.

South State's earnings growth is positive but not above the United States of America market average.

South State's earnings growth is positive but not above the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if South State will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has South State performed over the past 5 years?

17.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

South State's year on year earnings growth rate has been positive over the past 5 years.

South State's 1-year earnings growth exceeds its 5-year average (62.1% vs 17.5%)

South State's earnings growth has exceeded the US Banks industry average in the past year (62.1% vs 39.4%).


Return on Equity

South State has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

South State used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if South State improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is South State's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

South State has an acceptable proportion of non-loan assets held.

South State has a sufficient allowance for bad loans.

South State's liabilities are made up of primarily low risk sources of funding.

South State's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at South State are broadly funded by customer deposits.

South State has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is South State's current dividend yield, its reliability and sustainability?

2.30%

Expected Dividend Yield


Dividend Yield and Payments Analysis

South State's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).

South State's dividend is below the markets top 25% of dividend payers in United States of America (3.74%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.5x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of South State's salary, the management and board of directors tenure and is there insider trading?

7.3yrs

Average management tenure


CEO

Robert Hill (52yo)

14.8yrs

Tenure

US$3,218,009

Compensation

Mr. Robert R. Hill, Jr., has been the Chief Executive Officer of South State Corporation (formerly, SCBT Financial Corp) since November 6, 2004. Mr. Hill serves as Chief Executive Officer of South State Ba ...


CEO Compensation Analysis

Robert's remuneration is lower than average for companies of similar size in United States of America.

Robert's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

7.3yrs

Average Tenure

55.5yo

Average Age

The average tenure for the South State management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

8.4yrs

Average Tenure

64yo

Average Age

The tenure for the South State board of directors is about average.


Insider Trading

More shares have been bought than sold by South State individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$205,20010 Jun 19
Robert Demere
EntityIndividual
Shares3,000
Max PriceUS$68.40
SellUS$40,33320 May 19
Keith Rainwater
EntityIndividual
Role
Executive VP & Principal Accounting Officer
Shares548
Max PriceUS$73.60
SellUS$135,58906 May 19
James Cherry
EntityIndividual
Shares1,785
Max PriceUS$75.96
SellUS$35,50001 Mar 19
Keith Rainwater
EntityIndividual
Role
Executive VP & Principal Accounting Officer
Shares500
Max PriceUS$71.00
SellUS$280,27625 Feb 19
John Windley
EntityIndividual
Shares3,947
Max PriceUS$71.01
SellUS$662,76404 Feb 19
Robert Hill
EntityIndividual
Role
CEO & Director
Member of the Board of Directors
Shares9,892
Max PriceUS$67.00
BuyUS$58,64020 Dec 18
Robert Demere
EntityIndividual
Shares1,000
Max PriceUS$58.64
BuyUS$63,81017 Dec 18
Paula Bethea
EntityIndividual
Role
Vice Chairman
Shares1,000
Max PriceUS$63.81
SellUS$295,04320 Nov 18
Joseph Burns
EntityIndividual
Role
Executive Officer
Shares4,261
Max PriceUS$69.95
BuyUS$126,24026 Oct 18
Robert Demere
EntityIndividual
Shares2,000
Max PriceUS$63.12
BuyUS$84,03102 Aug 18
Martin Davis
EntityIndividual
Role
Member of the Board of Directors
Shares1,000
Max PriceUS$84.06

Ownership Breakdown


Management Team

  • John Goettee (61yo)

    President of South Carolina & Georgia Division

  • John Pollok (53yo)

    Senior EVP

    • Tenure: 7.3yrs
    • Compensation: $1.99m
  • Renee Brooks (49yo)

    Senior EVP & COO

    • Tenure: 1.0yrs
    • Compensation: $1.19m
  • L. Westbrook (56yo)

    Chief Risk Officer

  • Joseph Burns (64yo)

    Executive Officer

    • Tenure: 0.5yrs
    • Compensation: $959.82k
  • Greg Lapointe (55yo)

    President of South State Bank

    • Tenure: 9.3yrs
  • James Mabry (60yo)

    Executive Vice President of Investor Relations & Mergers-Acquisitions

  • Robert Hill (52yo)

    CEO & Director

    • Tenure: 14.8yrs
    • Compensation: $3.22m
  • Keith Rainwater (56yo)

    Executive VP & Principal Accounting Officer

  • Jonathan Kivett (45yo)

    Chief Credit Officer


Board Members

  • Robert Horger (68yo)

    Chairman of the Board

    • Tenure: 21.5yrs
    • Compensation: $210.43k
  • Paula Bethea (64yo)

    Vice Chairman of the Board

    • Tenure: 6.0yrs
    • Compensation: $99.77k
  • John Pollok (53yo)

    Senior EVP

    • Tenure: 6.8yrs
    • Compensation: $1.99m
  • James Roquemore (64yo)

    Director

    • Tenure: 25.5yrs
    • Compensation: $99.77k
  • Jean Davis (63yo)

    Director

    • Tenure: 1.6yrs
    • Compensation: $135.85k
  • Kevin Walker (69yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: $119.73k
  • Martin Davis (55yo)

    Director

    • Tenure: 3.2yrs
    • Compensation: $119.73k
  • Thomas Suggs (69yo)

    Director

    • Tenure: 18.5yrs
    • Compensation: $99.77k
  • Robert Hill (52yo)

    CEO & Director

    • Tenure: 23.5yrs
    • Compensation: $3.22m
  • Cynthia Hartley (70yo)

    Director

    • Tenure: 8.0yrs
    • Compensation: $119.73k

Company Information

South State Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: South State Corporation
  • Ticker: SSB
  • Exchange: NasdaqGS
  • Founded: 1933
  • Industry: regional banks
  • Sector: banks
  • Market Cap: US$2.649b
  • Shares outstanding: 35.02m
  • Website: Click here

Number of Employees


Location

  • South State Corporation
  • 520 Gervais Street
  • Columbia
  • South Carolina
  • 29201
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SSBNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJan 1997

Biography

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 ser ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/19 23:55
End of Day Share Price2019/07/19 00:00
Earnings2019/03/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.