Dalton Greiner Hartman Maher & Co. purchased a new position in shares of South State Co. (NASDAQ:SSB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,703 shares of the bank’s stock, valued at approximately $1,891,000. Dalton Greiner Hartman Maher & Co. owned approximately 0.06% of South State at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in South State by 1.5% during the second quarter. Wells Fargo & Company MN now owns 84,032 shares of the bank’s stock worth $7,201,000 after buying an additional 1,209 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in South State by 16.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,249 shares of the bank’s stock worth $1,906,000 after purchasing an additional 3,164 shares during the last quarter. BlackRock Inc. boosted its position in South State by 4.9% in the second quarter. BlackRock Inc. now owns 1,991,637 shares of the bank’s stock worth $170,684,000 after purchasing an additional 92,562 shares during the last quarter. BRYN MAWR TRUST Co boosted its position in South State by 14.7% in the second quarter. BRYN MAWR TRUST Co now owns 41,458 shares of the bank’s stock worth $3,553,000 after purchasing an additional 5,321 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in South State by 12.0% in the second quarter. Voya Investment Management LLC now owns 12,810 shares of the bank’s stock worth $1,098,000 after purchasing an additional 1,372 shares during the last quarter. Institutional investors and hedge funds own 55.72% of the company’s stock.
In other news, Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the transaction, the director now owns 23,007 shares of the company’s stock, valued at approximately $2,047,853.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert R. Hill, Jr. sold 13,024 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $91.85, for a total value of $1,196,254.40. Following the transaction, the chief executive officer now directly owns 133,121 shares in the company, valued at approximately $12,227,163.85. The disclosure for this sale can be found here. Insiders have sold a total of 72,620 shares of company stock worth $6,611,006 in the last ninety days. Insiders own 2.78% of the company’s stock.
South State Co. (SSB) opened at $91.40 on Friday. 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 Co. has a 1 year low of $78.60 and a 1 year high of $94.50. The firm has a market capitalization of $3,350.00, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09.
South State (NASDAQ:SSB) last posted its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. South State had a return on equity of 8.85% and a net margin of 20.48%. The business had revenue of $136.36 million for the quarter, compared to analysts’ expectations of $139.85 million. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. equities analysts expect that South State Co. will post 4.72 EPS for the current year.
Several research analysts have weighed in on SSB shares. BidaskClub cut South State from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Brean Capital reissued a “hold” rating on shares of South State in a research report on Monday, October 30th. SunTrust Banks reissued a “buy” rating and issued a $98.00 price objective on shares of South State in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised South State from a “sell” rating to a “hold” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $98.50.
South State 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.
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