South State Co. (NASDAQ:SSB) CEO Robert R. Hill, Jr. sold 882 shares of South State stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.80, for a total value of $78,321.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of South State Co. (NASDAQ:SSB) opened at $90.55 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3,328.62, a PE ratio of 30.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.05. South State Co. has a fifty-two week low of $78.60 and a fifty-two week high of $94.50.
South State (NASDAQ:SSB) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. The company had revenue of $151.37 million during the quarter, compared to analysts’ expectations of $147.91 million. South State had a return on equity of 9.04% and a net margin of 15.22%. The firm’s revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS. equities research analysts forecast that South State Co. will post 5.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.46%. The ex-dividend date was Thursday, February 8th. South State’s dividend payout ratio (DPR) is 44.30%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of South State by 24.3% during the 4th quarter. BlackRock Inc. now owns 2,741,506 shares of the bank’s stock worth $238,922,000 after purchasing an additional 536,109 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of South State by 1,597.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 366,105 shares of the bank’s stock worth $31,907,000 after purchasing an additional 344,539 shares during the period. Huber Capital Management LLC purchased a new stake in shares of South State during the 4th quarter worth about $18,229,000. Atlanta Capital Management Co. L L C grew its holdings in shares of South State by 228.2% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 292,033 shares of the bank’s stock worth $25,451,000 after purchasing an additional 203,047 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of South State by 23.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,070,254 shares of the bank’s stock worth $96,376,000 after purchasing an additional 201,107 shares during the period. Institutional investors own 56.83% of the company’s stock.
SSB has been the subject of several recent analyst reports. Brean Capital restated a “hold” rating on shares of South State in a report on Wednesday, December 6th. BidaskClub upgraded South State from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. SunTrust Banks restated a “buy” rating and issued a $107.00 price target on shares of South State in a report on Wednesday, November 29th. Finally, Zacks Investment Research cut South State from a “hold” rating to a “sell” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $98.75.
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About South State
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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