South State Corporation (NASDAQ:SSB) Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the sale, the director now directly owns 23,007 shares of the company’s stock, valued at $2,047,853.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

South State Corporation (NASDAQ:SSB) traded down $0.85 during midday trading on Thursday, hitting $88.60. 193,400 shares of the stock were exchanged, compared to its average volume of 120,828. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3,260.00, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.37 and a beta of 1.08. South State Corporation has a 1-year low of $78.60 and a 1-year high of $94.50.

South State (NASDAQ:SSB) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.02. The business had revenue of $136.36 million during the quarter, compared to analyst estimates of $139.85 million. South State had a net margin of 20.48% and a return on equity of 8.85%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 earnings per share. equities research analysts predict that South State Corporation will post 4.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, November 10th were issued a $0.33 dividend. The ex-dividend date was Thursday, November 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.49%. South State’s dividend payout ratio is currently 33.85%.

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in South State in the third quarter worth approximately $444,000. California Public Employees Retirement System increased its holdings in South State by 3.7% in the third quarter. California Public Employees Retirement System now owns 36,174 shares of the bank’s stock worth $3,257,000 after buying an additional 1,274 shares during the last quarter. Jane Street Group LLC acquired a new position in South State in the third quarter worth approximately $301,000. Atlanta Capital Management Co. L L C acquired a new position in South State in the third quarter worth approximately $8,013,000. Finally, Dimensional Fund Advisors LP increased its holdings in South State by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,016,792 shares of the bank’s stock worth $91,561,000 after buying an additional 58,525 shares during the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.

A number of analysts have commented on the stock. Brean Capital reaffirmed a “hold” rating on shares of South State in a research note on Wednesday. SunTrust Banks reissued a “buy” rating and issued a $107.00 price target on shares of South State in a research report on Wednesday, November 29th. BidaskClub raised shares of South State from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. Zacks Investment Research lowered shares of South State from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $90.00 price target on shares of South State in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. South State has an average rating of “Hold” and a consensus price target of $97.33.

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About South State

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 (NASDAQ:SSB)

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