BRYN MAWR TRUST Co lifted its stake in South State Co. (NASDAQ:SSB) by 48.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,625 shares of the bank’s stock after buying an additional 29,714 shares during the quarter. BRYN MAWR TRUST Co owned about 0.25% of South State worth $7,985,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of South State by 9.9% in the fourth quarter. Sterling Capital Management LLC now owns 17,699 shares of the bank’s stock worth $1,542,000 after buying an additional 1,598 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of South State during the fourth quarter worth about $1,465,000. Westwood Holdings Group Inc. grew its position in shares of South State by 6.7% during the fourth quarter. Westwood Holdings Group Inc. now owns 590,762 shares of the bank’s stock worth $51,485,000 after purchasing an additional 37,132 shares in the last quarter. Glenmede Trust Co. NA grew its position in shares of South State by 156.6% during the fourth quarter. Glenmede Trust Co. NA now owns 1,709 shares of the bank’s stock worth $148,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of South State by 14.8% during the fourth quarter. Macquarie Group Ltd. now owns 28,250 shares of the bank’s stock worth $2,462,000 after purchasing an additional 3,650 shares in the last quarter. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on SSB. BidaskClub cut South State from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research cut South State from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Brean Capital reiterated a “hold” rating on shares of South State in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $102.00 target price on shares of South State in a research report on Tuesday, February 27th. Finally, SunTrust Banks reiterated a “buy” rating and set a $107.00 target price on shares of South State in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $100.50.
Shares of South State Co. (NASDAQ SSB) opened at $89.05 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.93 and a current ratio of 0.93. South State Co. has a 1 year low of $78.60 and a 1 year high of $94.50. The stock has a market capitalization of $3,294.10, a PE ratio of 29.88, a P/E/G ratio of 1.93 and a beta of 1.03.
South State (NASDAQ:SSB) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.11. The business 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 8.15% and a net margin of 15.22%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. analysts forecast that South State Co. will post 5.81 EPS for the current fiscal year.
In other South State news, CEO Robert R. Hill, Jr. sold 8,878 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $89.12, for a total transaction of $791,207.36. Following the completion of the transaction, the chief executive officer now owns 110,441 shares in the company, valued at approximately $9,842,501.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert R. Hill, Jr. sold 9,272 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $91.01, for a total value of $843,844.72. Following the transaction, the chief executive officer now owns 111,879 shares of the company’s stock, valued at approximately $10,182,107.79. The disclosure for this sale can be found here. Insiders have sold a total of 32,252 shares of company stock valued at $2,887,856 in the last 90 days. 1.96% of the stock is currently owned by company insiders.
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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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