Joe E. Burns Sells 2,500 Shares of South State Corp. (SSB) Stock
South State Corp. (NASDAQ:SSB) insider Joe E. Burns sold 2,500 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $83.40, for a total transaction of $208,500.00. Following the completion of the sale, the insider now directly owns 45,861 shares in the company, valued at $3,824,807.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
South State Corp. (NASDAQ:SSB) opened at 83.40 on Thursday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 19.67 and a beta of 0.97. The company’s 50-day moving average is $75.05 and its 200 day moving average is $72.49. South State Corp. has a 52 week low of $59.19 and a 52 week high of $87.75.
South State Corp. (NASDAQ:SSB) last announced its earnings results on Friday, October 21st. The company reported $1.18 earnings per share (EPS) 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%. On average, analysts forecast that South State Corp. will post $4.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 11th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 8th. 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 yield of 1.53%. South State Corp.’s payout ratio is presently 30.26%.
A number of research firms have recently commented on SSB. FIG Partners lowered shares of South State Corp. from an “outperform” rating to a “market-perform” rating in a research note on Sunday, July 24th. Zacks Investment Research raised 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.
A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC raised its stake in shares of South State Corp. by 3.0% in the second quarter. Advisory Services Network LLC now owns 1,600 shares of the company’s stock valued at $109,000 after buying an additional 47 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in South State Corp. during the second quarter valued at approximately $109,000. Advisor Group Inc. acquired a new position in South State Corp. during the second quarter valued at approximately $109,000. BNP Paribas Arbitrage SA increased 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 valued at $111,000 after buying an additional 1,293 shares during the period. Finally, Roberts Glore & Co. Inc. IL acquired a new position in South State Corp. during the third quarter valued at approximately $206,000. 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.
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