South State Corp. (SSB) Insider Keith S. Rainwater Sells 300 Shares
South State Corp. (NASDAQ:SSB) insider Keith S. Rainwater sold 300 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $83.40, for a total value of $25,020.00. Following the transaction, the insider now directly owns 4,926 shares in the company, valued at approximately $410,828.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of South State Corp. (NASDAQ:SSB) traded up 1.37% during midday trading on Friday, reaching $84.85. The company’s stock had a trading volume of 35,212 shares. The company has a market capitalization of $2.04 billion, a P/E ratio of 20.01 and a beta of 0.97. The stock has a 50 day moving average of $75.29 and a 200-day moving average of $72.57. South State Corp. has a 1-year low of $59.19 and a 1-year high of $87.75.
South State Corp. (NASDAQ:SSB) last posted its quarterly earnings data on Friday, October 21st. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities research analysts anticipate that South State Corp. will post $4.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 11th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. 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. South State Corp.’s dividend payout ratio is 30.26%.
A number of research firms recently issued reports on SSB. FIG Partners lowered 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 price target on the stock in a report on Tuesday, October 25th.
Several large investors have recently modified their holdings of SSB. 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 worth $109,000 after buying an additional 47 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of South State Corp. during the second quarter worth about $109,000. Advisor Group Inc. bought a new stake in shares of South State Corp. during the second quarter worth about $109,000. BNP Paribas Arbitrage SA raised 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 worth $111,000 after buying an additional 1,293 shares during the period. Finally, Roberts Glore & Co. Inc. IL bought a new stake in shares of South State Corp. during the third quarter worth about $206,000. Institutional investors and hedge funds 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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