South State Corporation (NASDAQ:SSB) CFO John C. Pollok sold 8,283 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $90.56, for a total value of $750,108.48. Following the sale, the chief financial officer now directly owns 83,714 shares of the company’s stock, valued at $7,581,139.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

South State Corporation (NASDAQ:SSB) remained flat at $90.05 during trading on Tuesday. The stock had a trading volume of 135,995 shares. South State Corporation has a 1-year low of $70.75 and a 1-year high of $93.85. The firm’s 50 day moving average price is $88.83 and its 200-day moving average price is $85.83. The stock has a market capitalization of $2.62 billion, a P/E ratio of 23.52 and a beta of 1.10.

South State Corporation (NASDAQ:SSB) last posted its earnings results on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. South State Corporation had a return on equity of 9.15% and a net margin of 20.48%. The firm had revenue of $136.36 million during the quarter, compared to the consensus estimate of $139.85 million. During the same period last year, the company earned $1.18 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that South State Corporation will post $4.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. South State Corporation’s dividend payout ratio (DPR) is 33.85%.

ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/10/31/insider-selling-south-state-corporation-ssb-cfo-sells-8283-shares-of-stock.html.

Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in shares of South State Corporation by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock worth $132,000 after acquiring an additional 497 shares during the last quarter. Bank of Montreal Can raised its position in shares of South State Corporation by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after acquiring an additional 34 shares during the last quarter. SG Americas Securities LLC raised its position in shares of South State Corporation by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock worth $135,000 after acquiring an additional 20 shares during the last quarter. Strs Ohio raised its position in shares of South State Corporation by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock worth $154,000 after acquiring an additional 500 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of South State Corporation by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock worth $161,000 after acquiring an additional 614 shares during the last quarter. Institutional investors own 66.57% of the company’s stock.

Several analysts have weighed in on SSB shares. BidaskClub raised South State Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 5th. Brean Capital reissued a “hold” rating on shares of South State Corporation in a report on Wednesday, August 2nd. SunTrust Banks, Inc. reissued a “buy” rating and set a $98.00 price objective on shares of South State Corporation in a report on Thursday, October 12th. Finally, Zacks Investment Research raised South State Corporation from a “sell” rating to a “hold” rating in a report on Saturday, September 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $95.67.

South State Corporation 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.

Insider Buying and Selling by Quarter for South State Corporation (NASDAQ:SSB)

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.