South State Co. (NASDAQ:SSB) insider John C. Pollok sold 1,398 shares of South State stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $91.00, for a total transaction of $127,218.00. Following the completion of the transaction, the insider now owns 78,110 shares of the company’s stock, valued at approximately $7,108,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
South State Co. (SSB) traded up $1.10 during mid-day trading on Friday, reaching $88.70. 66,762 shares of the company’s stock were exchanged, compared to its average volume of 149,729. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. South State Co. has a 12 month low of $78.60 and a 12 month high of $94.50. The firm has a market capitalization of $3,280.80, a PE ratio of 29.40, a P/E/G ratio of 1.92 and a beta of 1.05.
South State (NASDAQ:SSB) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. South State had a net margin of 15.22% and a return on equity of 9.04%. The company had revenue of $151.37 million for the quarter, compared to analysts’ expectations of $147.91 million. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. equities analysts predict that South State Co. will post 5.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a yield of 1.49%. South State’s payout ratio is currently 44.30%.
A number of research analysts recently issued reports on SSB shares. SunTrust Banks lifted their price target on shares of South State from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Brean Capital reiterated a “hold” rating on shares of South State in a research note on Tuesday, January 23rd. BidaskClub upgraded shares of South State from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of South State from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. One equities research 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 company. South State currently has a consensus rating of “Hold” and a consensus target price of $98.75.
A number of hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in shares of South State in the 4th quarter valued at $111,000. Glenmede Trust Co. NA increased its holdings in shares of South State by 156.6% in the 4th quarter. Glenmede Trust Co. NA now owns 1,709 shares of the bank’s stock valued at $148,000 after acquiring an additional 1,043 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of South State by 63.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock valued at $152,000 after acquiring an additional 675 shares during the period. Bank of Montreal Can increased its holdings in shares of South State by 38.7% in the 4th quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock valued at $187,000 after acquiring an additional 600 shares during the period. Finally, TNB Financial acquired a new position in shares of South State in the 4th quarter valued at $200,000. 65.06% of the stock is currently owned by institutional investors.
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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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