South State Corp (NASDAQ:SSB) CFO John C. Pollok sold 7,434 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $75.00, for a total value of $557,550.00. Following the completion of the transaction, the chief financial officer now owns 99,346 shares in the company, valued at $7,450,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NASDAQ:SSB opened at $75.78 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $75.74 and its two-hundred day simple moving average is $71.96. South State Corp has a 1-year low of $56.55 and a 1-year high of $85.50. The stock has a market cap of $2.59 billion, a PE ratio of 13.78 and a beta of 1.32.
South State (NASDAQ:SSB) last issued its quarterly earnings data on Monday, July 29th. The bank reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.08. South State had a return on equity of 8.11% and a net margin of 25.33%. The business had revenue of $164.80 million for the quarter, compared to analysts’ expectations of $159.75 million. During the same period last year, the business earned $1.43 EPS. On average, sell-side analysts forecast that South State Corp will post 5.43 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on SSB. Stephens reiterated a “sell” rating and issued a $63.00 target price on shares of South State in a report on Wednesday, August 7th. Zacks Investment Research cut South State from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. ValuEngine upgraded South State from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. SunTrust Banks raised their price objective on South State to $85.00 and gave the company an “in-line” rating in a research note on Wednesday, May 1st. Finally, BidaskClub upgraded South State from a “hold” rating to a “buy” rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. South State presently has an average rating of “Hold” and an average target price of $75.67.
A number of large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in South State by 7.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,575,107 shares of the bank’s stock valued at $94,428,000 after purchasing an additional 103,151 shares during the period. Legal & General Group Plc lifted its holdings in shares of South State by 18.6% during the 4th quarter. Legal & General Group Plc now owns 15,265 shares of the bank’s stock worth $915,000 after acquiring an additional 2,399 shares during the period. Norges Bank bought a new position in South State during the 4th quarter valued at about $13,657,000. Geode Capital Management LLC lifted its holdings in South State by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 412,314 shares of the bank’s stock valued at $24,718,000 after purchasing an additional 23,760 shares during the last quarter. Finally, Strs Ohio lifted its holdings in South State by 552.6% during the 1st quarter. Strs Ohio now owns 12,400 shares of the bank’s stock valued at $847,000 after purchasing an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.
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.
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