South State Corporation (SSB) Declares $0.33 Quarterly Dividend

South State Corporation (NASDAQ:SSB) announced a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Friday, November 10th will be paid a dividend of 0.33 per share by the bank on Friday, November 17th. This represents a $1.32 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Thursday, November 9th.

Shares of South State Corporation (NASDAQ:SSB) opened at $86.50 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.92. South State Corporation has a 52 week low of $78.60 and a 52 week high of $93.85. The stock has a market cap of $2,533.95, a price-to-earnings ratio of 18.40, a PEG ratio of 2.28 and a beta of 1.09.

South State Corporation (NASDAQ:SSB) last issued its earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.02. The firm had revenue of $136.36 million during the quarter, compared to analyst estimates of $139.85 million. South State Corporation had a net margin of 20.48% and a return on equity of 8.85%. South State Corporation’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. research analysts anticipate that South State Corporation will post 4.74 EPS for the current year.

A number of research firms have commented on SSB. BidaskClub downgraded shares of South State Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Brean Capital reiterated a “hold” rating on shares of South State Corporation in a research note on Monday, October 30th. Zacks Investment Research cut shares of South State Corporation from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. lifted their price objective on shares of South State Corporation from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $90.00 target price on shares of South State Corporation in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. South State Corporation presently has an average rating of “Hold” and an average price target of $95.67.

In related news, insider Joe E. Burns sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $92.39, for a total transaction of $604,969.72. Following the sale, the insider now directly owns 37,595 shares in the company, valued at $3,473,402.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Horger sold 21,252 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $91.89, for a total transaction of $1,952,846.28. Following the sale, the director now owns 75,084 shares in the company, valued at $6,899,468.76. The disclosure for this sale can be found here. Insiders sold 52,688 shares of company stock worth $4,798,586 in the last ninety days. 2.78% of the stock is currently owned by corporate insiders.

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South State Corporation Company Profile

South State Corporation (NASDAQ: SSB) is the largest bank holding company headquartered in South Carolina. Founded in 1933, the company’s primary subsidiary, South State Bank, has been serving the financial needs of its local communities in 19 South Carolina counties, 12 Georgia counties and 4 North Carolina counties for over 80 years.

Dividend History for South State Corporation (NASDAQ:SSB)

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