Insider Selling: South State Corp. (SSB) Director Sells $159,680.00 in Stock
South State Corp. (NASDAQ:SSB) Director Alton Clarence Phillips sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $79.84, for a total transaction of $159,680.00. Following the transaction, the director now owns 14,467 shares in the company, valued at approximately $1,155,045.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of South State Corp. (NASDAQ:SSB) opened at 85.00 on Tuesday. South State Corp. has a one year low of $59.19 and a one year high of $87.75. The company has a market capitalization of $2.04 billion, a PE ratio of 20.05 and a beta of 0.97. The company’s 50-day moving average is $74.54 and its 200-day moving average is $72.32.
South State Corp. (NASDAQ:SSB) last issued its earnings results on Friday, October 21st. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.01. South State Corp. had a net margin of 22.27% and a return on equity of 9.98%. Equities analysts predict that South State Corp. will post $4.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 11th will be given a dividend of $0.32 per share. This is a positive change from South State Corp.’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, November 8th. South State Corp.’s payout ratio is 30.26%.
A number of research analysts recently commented on the stock. FIG Partners upgraded shares of South State Corp. from a “market-perform” rating to an “outperform” rating in a research note on Thursday, November 3rd. Zacks Investment Research upgraded shares of South State Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, October 25th.
Several hedge funds have recently modified their holdings of SSB. Bank of Montreal Can acquired a new stake in shares of South State Corp. during the second quarter valued at $2,126,000. Copper Rock Capital Partners LLC raised its position in South State Corp. by 1.6% in the second quarter. Copper Rock Capital Partners LLC now owns 565,059 shares of the company’s stock worth $38,452,000 after buying an additional 8,874 shares during the period. Eagle Asset Management Inc. raised its position in South State Corp. by 5.6% in the second quarter. Eagle Asset Management Inc. now owns 77,900 shares of the company’s stock worth $5,301,000 after buying an additional 4,123 shares during the period. Fenimore Asset Management Inc. raised its position in South State Corp. by 4.4% in the second quarter. Fenimore Asset Management Inc. now owns 526,635 shares of the company’s stock worth $35,838,000 after buying an additional 22,275 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in South State Corp. by 377.0% in the second quarter. BNP Paribas Arbitrage SA now owns 1,636 shares of the company’s stock worth $111,000 after buying an additional 1,293 shares during the period. Institutional investors and hedge funds own 69.96% of the company’s stock.
About South State Corp.
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.
Receive News & Stock Ratings for South State Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State Corp. and related stocks with our FREE daily email newsletter.