South State Corp. (SSB) Director Alton Clarence Phillips Sells 1,000 Shares
South State Corp. (NASDAQ:SSB) Director Alton Clarence Phillips sold 1,000 shares of South State Corp. stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $83.46, for a total value of $83,460.00. Following the sale, the director now owns 13,467 shares in the company, valued at $1,123,955.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Alton Clarence Phillips also recently made the following trade(s):
- On Thursday, November 10th, Alton Clarence Phillips sold 2,000 shares of South State Corp. stock. The stock was sold at an average price of $79.84, for a total value of $159,680.00.
South State Corp. (NASDAQ:SSB) traded up 0.90% on Friday, hitting $84.45. The stock had a trading volume of 31,558 shares. The company has a 50-day moving average price of $75.29 and a 200 day moving average price of $72.57. The firm has a market cap of $2.03 billion, a PE ratio of 19.92 and a beta of 0.97. 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 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 forecast 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 equities research analysts have commented on the company. FIG Partners downgraded South State Corp. from an “outperform” rating to a “market-perform” rating in a report on Sunday, July 24th. Zacks Investment Research raised South State Corp. from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Tuesday, October 25th.
Several large investors have recently modified their holdings of the company. Hillcrest Asset Management LLC increased its position in South State Corp. by 1.4% in the third quarter. Hillcrest Asset Management LLC now owns 135,062 shares of the company’s stock valued at $10,135,000 after buying an additional 1,830 shares during the last quarter. Eaton Vance Management purchased a new position in South State Corp. during the third quarter valued at approximately $1,123,000. Panagora Asset Management Inc. increased its position in South State Corp. by 103,314.7% in the third quarter. Panagora Asset Management Inc. now owns 77,561 shares of the company’s stock valued at $5,820,000 after buying an additional 77,486 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in South State Corp. during the third quarter valued at approximately $1,201,000. Finally, Crawford Investment Counsel Inc. increased its position in South State Corp. by 14.3% in the third quarter. Crawford Investment Counsel Inc. now owns 27,310 shares of the company’s stock valued at $2,049,000 after buying an additional 3,420 shares during the last quarter. Hedge funds and other institutional investors own 69.96% of the company’s stock.
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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