South State Corp boosted its holdings in South State Corp (NASDAQ:SSB) by 61.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,084 shares of the bank’s stock after acquiring an additional 46,208 shares during the period. South State comprises about 1.0% of South State Corp’s investment portfolio, making the stock its 29th biggest holding. South State Corp owned about 0.33% of South State worth $9,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SSB. Dimensional Fund Advisors LP raised its holdings in shares of South State by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,429,842 shares of the bank’s stock valued at $123,326,000 after buying an additional 39,934 shares during the last quarter. Fenimore Asset Management Inc. raised its holdings in shares of South State by 8.2% during the third quarter. Fenimore Asset Management Inc. now owns 617,456 shares of the bank’s stock valued at $50,631,000 after buying an additional 46,639 shares during the last quarter. BlackRock Inc. raised its holdings in shares of South State by 6.4% during the second quarter. BlackRock Inc. now owns 2,782,451 shares of the bank’s stock valued at $239,986,000 after buying an additional 168,046 shares during the last quarter. Sei Investments Co. raised its holdings in shares of South State by 46.6% during the second quarter. Sei Investments Co. now owns 3,783 shares of the bank’s stock valued at $327,000 after buying an additional 1,202 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of South State by 11.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 199,305 shares of the bank’s stock valued at $17,191,000 after buying an additional 20,332 shares during the last quarter. 75.49% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ SSB opened at $67.03 on Thursday. South State Corp has a 12 month low of $61.26 and a 12 month high of $94.50. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.48 billion, a P/E ratio of 13.82 and a beta of 1.07.

South State (NASDAQ:SSB) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $1.33 EPS for the quarter, missing the Zacks’ consensus estimate of $1.44 by ($0.11). South State had a net margin of 19.08% and a return on equity of 8.32%. The company had revenue of $160.32 million for the quarter, compared to analyst estimates of $167.07 million. During the same quarter in the prior year, the business earned $1.22 EPS. Sell-side analysts predict that South State Corp will post 5.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 9th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from South State’s previous quarterly dividend of $0.35. South State’s dividend payout ratio (DPR) is currently 29.69%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised South State from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. BidaskClub lowered shares of South State from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. SunTrust Banks lowered their price objective on shares of South State to $79.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. ValuEngine lowered shares of South State from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, Brean Capital reiterated a “hold” rating on shares of South State in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $88.40.

In other South State news, Director Robert H. Demere, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were purchased at an average price of $63.12 per share, for a total transaction of $126,240.00. Following the completion of the transaction, the director now owns 44,360 shares in the company, valued at approximately $2,800,003.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.96% of the stock is owned by company insiders.

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About South State

South State Corporation operates as the bank holding company for South State Bank that provides a range of retail and commercial banking services, mortgage lending services, trust and wealth management, and consumer finance loans. The company accepts demand deposits, savings deposits, interest-bearing transaction accounts, certificates of deposit, and other time deposits; and offers lending and credit card, ATM processing, and wealth management and trust services.

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Institutional Ownership by Quarter for South State (NASDAQ:SSB)

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