Insider Selling: South State Corporation (SSB) President Sells 7,258 Shares of Stock
South State Corporation (NASDAQ:SSB) President John F. Windley sold 7,258 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,433,880.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
South State Corporation (NASDAQ:SSB) traded down $0.40 during trading on Tuesday, hitting $90.65. 217,400 shares of the stock traded hands, compared to its average volume of 119,960. The company has a quick ratio of 0.92, a current ratio of 0.93 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. The company has a market capitalization of $3,345.15, a P/E ratio of 19.37, a PEG ratio of 2.41 and a beta of 1.09.
South State (NASDAQ:SSB) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $139.85 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. research analysts expect that South State Corporation will post 4.72 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of SSB. Oppenheimer Asset Management Inc. raised its stake in shares of South State by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock valued at $132,000 after acquiring an additional 497 shares in the last quarter. Bank of Montreal Can raised its stake in shares of South State by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after acquiring an additional 34 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of South State by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after acquiring an additional 20 shares in the last quarter. Strs Ohio raised its stake in shares of South State by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock valued at $154,000 after acquiring an additional 500 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of South State by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after acquiring an additional 614 shares in the last quarter. 69.94% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on SSB shares. BidaskClub raised shares of South State from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. SunTrust Banks reissued a “buy” rating and issued a $98.00 price objective on shares of South State in a research note on Thursday, October 12th. Brean Capital reissued a “hold” rating on shares of South State in a research note on Monday, October 30th. Finally, Zacks Investment Research raised shares of South State from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. South State currently has a consensus rating of “Hold” and a consensus price target of $97.33.
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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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