South State Corporation (NASDAQ:SSB) CFO John C. Pollok sold 8,283 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $90.56, for a total value of $750,108.48. Following the sale, the chief financial officer now owns 83,714 shares of the company’s stock, valued at $7,581,139.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

South State Corporation (NASDAQ:SSB) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. The firm had revenue of $136.36 million during the quarter, compared to the consensus estimate of $139.85 million. South State Corporation had a net margin of 20.48% and a return on equity of 9.15%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Thursday, November 9th. South State Corporation’s dividend payout ratio is currently 33.85%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its position in shares of South State Corporation by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock valued at $132,000 after buying an additional 497 shares during the period. Bank of Montreal Can increased its position in shares of South State Corporation by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after buying an additional 34 shares during the period. SG Americas Securities LLC increased its position in shares of South State Corporation by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after buying an additional 20 shares during the period. Strs Ohio increased its position in shares of South State Corporation by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock valued at $154,000 after buying an additional 500 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of South State Corporation by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after buying an additional 614 shares during the period. Institutional investors own 66.57% of the company’s stock.

A number of brokerages have weighed in on SSB. BidaskClub downgraded South State Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. SunTrust Banks, Inc. increased their price target on South State Corporation from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research downgraded South State Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Finally, Brean Capital reiterated a “hold” rating on shares of South State Corporation in a report on Monday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. South State Corporation has an average rating of “Hold” and an average target price of $95.67.

About South State Corporation

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.

Insider Buying and Selling by Quarter for South State Corporation (NASDAQ:SSB)

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