Keybank National Association OH reduced its position in South State Corporation (NASDAQ:SSB) by 4.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,200 shares of the bank’s stock after selling 900 shares during the quarter. Keybank National Association OH owned about 0.07% of South State Corporation worth $1,909,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC increased its stake in South State Corporation by 1.3% in the 2nd quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after buying an additional 20 shares during the period. Bank of Montreal Can increased its stake in South State Corporation by 2.2% in the 2nd quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after buying an additional 34 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management grew its stake in shares of South State Corporation by 1.5% during the 2nd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,300 shares of the bank’s stock worth $369,000 after purchasing an additional 65 shares during the period. Carroll Financial Associates Inc. grew its stake in shares of South State Corporation by 2.5% during the 2nd quarter. Carroll Financial Associates Inc. now owns 3,438 shares of the bank’s stock worth $294,000 after purchasing an additional 83 shares during the period. Finally, Prudential Financial Inc. grew its stake in shares of South State Corporation by 0.8% during the 1st quarter. Prudential Financial Inc. now owns 16,650 shares of the bank’s stock worth $1,488,000 after purchasing an additional 130 shares during the period. 67.32% of the stock is currently owned by institutional investors.
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In related news, insider Joe E. Burns sold 500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total value of $41,695.00. Following the sale, the insider now directly owns 39,947 shares in the company, valued at approximately $3,331,180.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert R. Horger sold 21,252 shares of the business’s stock in a transaction dated 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 completion of 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 a total of 52,688 shares of company stock worth $4,798,586 over the last quarter. Insiders own 2.78% of the company’s stock.
South State Corporation (NASDAQ SSB) opened at $86.50 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.93. South State Corporation has a 12 month low of $78.60 and a 12 month high of $93.85. The firm has a market cap of $2,533.93, 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 released its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. South State Corporation had a net margin of 20.48% and a return on equity of 8.85%. The business had revenue of $136.36 million for the quarter, compared to analyst estimates of $139.85 million. During the same period in the previous year, the firm earned $1.18 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. research analysts predict that South State Corporation will post 4.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 10th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.53%. South State Corporation’s dividend payout ratio is presently 33.85%.
A number of research firms have recently weighed in on SSB. BidaskClub raised shares of South State Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research cut shares of South State Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods raised shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price target on the stock in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $90.00 price target on shares of South State Corporation in a research note on Thursday, October 5th. Finally, SunTrust Banks, Inc. upped their price target on shares of South State Corporation from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $95.67.
About South State Corporation
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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