South State Corporation to Issue Quarterly Dividend of $0.33 (SSB)
South State Corporation (NASDAQ:SSB) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Investors of record on Friday, November 10th will be given a dividend of 0.33 per share by the bank on Friday, November 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, November 9th.
South State Corporation (SSB) traded up 0.72% on Tuesday, hitting $91.35. 68,862 shares of the company were exchanged. The company has a market capitalization of $2.66 billion, a P/E ratio of 23.86 and a beta of 1.10. South State Corporation has a 52 week low of $70.75 and a 52 week high of $93.40. The firm’s 50 day moving average is $87.39 and its 200 day moving average is $85.66.
South State Corporation (NASDAQ:SSB) last announced its quarterly earnings results on Friday, July 21st. The bank reported $1.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.18. South State Corporation had a net margin of 20.00% and a return on equity of 9.15%. The firm had revenue of $136.61 million for the quarter, compared to the consensus estimate of $137.00 million. On average, equities research analysts forecast that South State Corporation will post $4.75 earnings per share for the current fiscal year.
In other South State Corporation news, insider Joe E. Burns sold 500 shares of South State Corporation stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $83.39, for a total transaction of $41,695.00. Following the completion of the sale, the insider now directly owns 39,947 shares in the company, valued at $3,331,180.33. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert R. Hill, Jr. sold 2,831 shares of South State Corporation stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $82.10, for a total transaction of $232,425.10. Following the sale, the chief executive officer now owns 140,215 shares of the company’s stock, valued at $11,511,651.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,581 shares of company stock valued at $294,408. 2.78% of the stock is owned by company insiders.
Several equities analysts have issued reports on the stock. BidaskClub raised shares of South State Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $98.00 target price on shares of South State Corporation in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of South State Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 2nd. Brean Capital reiterated a “hold” rating on shares of South State Corporation in a research report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $90.00 target price on shares of South State Corporation in a research report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $94.33.
ILLEGAL ACTIVITY WARNING: “South State Corporation to Issue Quarterly Dividend of $0.33 (SSB)” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/24/south-state-corporation-to-issue-quarterly-dividend-of-0-33-ssb.html.
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.
Receive News & Ratings for South State Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State Corporation and related companies with MarketBeat.com's FREE daily email newsletter.