Robert R. Hill, Jr. Sells 2,891 Shares of South State Corp. (SSB) Stock
South State Corp. (NASDAQ:SSB) insider Robert R. Hill, Jr. sold 2,891 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $83.80, for a total value of $242,265.80. Following the completion of the transaction, the insider now owns 134,329 shares of the company’s stock, valued at approximately $11,256,770.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
South State Corp. (NASDAQ:SSB) opened at 83.40 on Thursday. South State Corp. has a 52 week low of $59.19 and a 52 week high of $87.75. The stock has a market cap of $2.00 billion, a PE ratio of 19.67 and a beta of 0.97. The firm’s 50-day moving average price is $75.05 and its 200-day moving average price is $72.49.
South State Corp. (NASDAQ:SSB) last issued its quarterly earnings results on Friday, October 21st. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.01. South State Corp. had a return on equity of 9.98% and a net margin of 22.27%. Equities analysts predict that South State Corp. will post $4.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 11th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. This is an increase from South State Corp.’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Tuesday, November 8th. South State Corp.’s dividend payout ratio is presently 30.26%.
Several large investors have recently modified their holdings of SSB. Advisory Services Network LLC increased 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 stake in shares of South State Corp. during the second quarter valued at $109,000. Advisor Group Inc. acquired a new stake in shares of South State Corp. during the second quarter valued at $109,000. BNP Paribas Arbitrage SA increased its stake in shares of 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 last quarter. Finally, Roberts Glore & Co. Inc. IL acquired a new stake in shares of South State Corp. during the third quarter valued at $206,000. Hedge funds and other institutional investors own 69.96% of the company’s stock.
A number of research firms have recently commented on SSB. FIG Partners cut South State Corp. from an “outperform” rating to a “market-perform” rating in a research note on Sunday, July 24th. Zacks Investment Research upgraded South State Corp. from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, October 25th.
South State Corp. Company Profile
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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