South State Corporation (SSB) President John F. Windley Sells 7,258 Shares
South State Corporation (NASDAQ:SSB) President John F. Windley sold 7,258 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $90.93, for a total transaction of $659,969.94. Following the completion of the sale, the president now directly owns 37,764 shares in the company, valued at approximately $3,433,880.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
South State Corporation (NASDAQ:SSB) traded down $1.20 during mid-day trading on Wednesday, reaching $89.45. 250,400 shares of the company traded hands, compared to its average volume of 120,518. The firm has a market capitalization of $3,330.45, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. 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 Corporation has a 1-year low of $78.60 and a 1-year high of $94.50.
South State (NASDAQ:SSB) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. South State had a net margin of 20.48% and a return on equity of 8.85%. The firm had revenue of $136.36 million for the quarter, compared to analyst estimates of $139.85 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. equities analysts anticipate that South State Corporation will post 4.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.48%. South State’s dividend payout ratio is currently 33.85%.
Several research firms recently issued reports on SSB. Brean Capital restated a “hold” rating on shares of South State in a report on Wednesday. BidaskClub upgraded shares of South State from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Piper Jaffray Companies restated a “neutral” rating and issued a $90.00 target price on shares of South State in a report on Thursday, October 5th. SunTrust Banks boosted their target price on shares of South State from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of South State from a “hold” rating to a “sell” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $97.33.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of South State by 1.8% during the second quarter. Vanguard Group Inc. now owns 2,227,745 shares of the bank’s stock valued at $190,918,000 after purchasing an additional 38,733 shares during the period. BlackRock Inc. raised its holdings in shares of South State by 4.9% during the second quarter. BlackRock Inc. now owns 1,991,637 shares of the bank’s stock valued at $170,684,000 after purchasing an additional 92,562 shares during the period. Victory Capital Management Inc. raised its holdings in shares of South State by 23.1% during the third quarter. Victory Capital Management Inc. now owns 1,070,254 shares of the bank’s stock valued at $96,376,000 after purchasing an additional 201,107 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of South State by 6.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,016,792 shares of the bank’s stock valued at $91,561,000 after purchasing an additional 58,525 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of South State by 22.9% during the second quarter. Goldman Sachs Group Inc. now owns 965,758 shares of the bank’s stock worth $82,766,000 after acquiring an additional 179,644 shares in the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.
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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