Keefe, Bruyette & Woods cut shares of South State Corp. (NASDAQ:SSB) from an outperform rating to a market perform rating in a research report report published on Tuesday morning.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of South State Corp. from a hold rating to a buy rating and set a $81.00 target price for the company in a research note on Tuesday, October 25th. 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $80.33.

Shares of South State Corp. (NASDAQ:SSB) opened at 85.30 on Tuesday. The stock’s 50 day moving average price is $77.20 and its 200-day moving average price is $73.38. The firm has a market capitalization of $2.05 billion, a PE ratio of 20.12 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 earnings results on Friday, October 21st. The company reported $1.18 EPS for the quarter, topping 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%. Equities research analysts anticipate that South State Corp. will post $4.55 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Friday, November 11th were given a $0.32 dividend. The ex-dividend date was Tuesday, November 8th. This is a boost from South State Corp.’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. South State Corp.’s payout ratio is 30.26%.

In other news, Director Alton Clarence Phillips sold 2,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $79.84, for a total value of $159,680.00. Following the completion of the sale, the director now directly owns 14,467 shares of the company’s stock, valued at $1,155,045.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President John F. Windley sold 2,028 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $79.74, for a total transaction of $161,712.72. Following the completion of the sale, the president now directly owns 41,862 shares of the company’s stock, valued at $3,338,075.88. The disclosure for this sale can be found here. 4.18% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of South State Corp. by 23.4% in the first quarter. State Street Corp now owns 499,431 shares of the company’s stock worth $32,082,000 after buying an additional 94,700 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of South State Corp. by 22.7% in the first quarter. Renaissance Technologies LLC now owns 220,983 shares of the company’s stock worth $14,194,000 after buying an additional 40,900 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of South State Corp. by 18.1% in the first quarter. A.R.T. Advisors LLC now owns 8,499 shares of the company’s stock worth $545,000 after buying an additional 1,300 shares during the last quarter. BNP Paribas Arbitrage SA boosted 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 last quarter. Finally, Fenimore Asset Management Inc. boosted its stake in shares of 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 last quarter. 68.95% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:SSB

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