Stifel Financial Corp Has $4.03 Million Position in South State Corp (NASDAQ:SSB)
Stifel Financial Corp boosted its position in South State Corp (NASDAQ:SSB) by 1,848.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,522 shares of the bank’s stock after buying an additional 80,185 shares during the quarter. Stifel Financial Corp owned approximately 0.25% of South State worth $4,028,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Private Capital Group LLC raised its position in South State by 34.2% in the 2nd quarter. Private Capital Group LLC now owns 769 shares of the bank’s stock valued at $37,000 after buying an additional 196 shares during the last quarter. Connable Office Inc. lifted its position in shares of South State by 8.7% during the 2nd quarter. Connable Office Inc. now owns 4,341 shares of the bank’s stock valued at $207,000 after acquiring an additional 349 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of South State by 19.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,850 shares of the bank’s stock valued at $167,000 after acquiring an additional 473 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of South State by 43.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,780 shares of the bank’s stock valued at $105,000 after acquiring an additional 540 shares during the period. Finally, Trustcore Financial Services LLC acquired a new position in shares of South State during the 2nd quarter worth $26,000. 73.31% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on SSB shares. BidaskClub cut South State from a “hold” rating to a “sell” rating in a report on Wednesday, September 2nd. Raymond James started coverage on South State in a report on Wednesday, July 1st. They set an “outperform” rating and a $58.00 price target for the company. DA Davidson raised South State from a “neutral” rating to a “buy” rating in a report on Monday, August 3rd. Truist Financial reaffirmed a “buy” rating on shares of South State in a report on Wednesday, August 12th. Finally, ValuEngine cut South State from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. South State presently has a consensus rating of “Hold” and a consensus target price of $70.60.
NASDAQ:SSB opened at $53.27 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.00 and a quick ratio of 0.98. The business has a fifty day simple moving average of $54.91 and a two-hundred day simple moving average of $54.17. South State Corp has a 1 year low of $40.42 and a 1 year high of $88.10. The company has a market capitalization of $3.78 billion, a P/E ratio of 31.34 and a beta of 1.10.
South State (NASDAQ:SSB) last released its earnings results on Thursday, July 30th. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.87. South State had a return on equity of 5.82% and a net margin of 4.99%. The business had revenue of $216.90 million during the quarter, compared to the consensus estimate of $215.65 million. As a group, analysts anticipate that South State Corp will post 3.48 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend was Thursday, August 13th. South State’s payout ratio is currently 33.39%.
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 services, 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, and ATM processing services.
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