Stephens Inc. AR bought a new stake in shares of South State Corp (NASDAQ:SSB) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,252 shares of the bank’s stock, valued at approximately $222,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank bought a new position in South State in the 4th quarter valued at $26,000. FTB Advisors Inc. bought a new position in South State in the 4th quarter valued at $31,000. Bremer Trust National Association bought a new position in South State in the 4th quarter valued at $32,000. Capital Investment Advisory Services LLC bought a new position in South State in the 4th quarter valued at $79,000. Finally, Huntington National Bank grew its position in South State by 65.2% in the 4th quarter. Huntington National Bank now owns 1,469 shares of the bank’s stock valued at $88,000 after acquiring an additional 580 shares during the last quarter. 76.63% of the stock is currently owned by hedge funds and other institutional investors.
SSB opened at $70.04 on Friday. South State Corp has a 12-month low of $56.55 and a 12-month high of $93.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $2.48 billion, a PE ratio of 12.73 and a beta of 1.25.
The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a dividend of $0.40 per share. This is an increase from South State’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. South State’s dividend payout ratio is presently 29.09%.
Several equities analysts have commented on the company. Zacks Investment Research raised South State from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub downgraded South State from a “buy” rating to a “hold” rating in a research report on Friday. SunTrust Banks upped their price objective on South State to $85.00 and gave the company an “in-line” rating in a research report on Wednesday, May 1st. Finally, TheStreet raised South State from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.40.
In other news, insider Keith S. Rainwater sold 500 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $71.00, for a total transaction of $35,500.00. Following the transaction, the insider now owns 6,146 shares of the company’s stock, valued at approximately $436,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Keith S. Rainwater sold 548 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $73.60, for a total value of $40,332.80. Following the transaction, the insider now directly owns 5,398 shares in the company, valued at approximately $397,292.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,833 shares of company stock worth $211,421 in the last three months. Corporate insiders own 2.05% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Stephens Inc. AR Buys Shares of 3,252 South State Corp (SSB)” was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/4353172/stephens-inc-ar-buys-shares-of-3252-south-state-corp-ssb.html.
South State Company Profile
South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management services, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, and ATM processing services.
Featured Story: Trading Ex-Dividend Strategy
Want to see what other hedge funds are holding SSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South State Corp (NASDAQ:SSB).
Receive News & Ratings for South State Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State and related companies with MarketBeat.com's FREE daily email newsletter.