Silvercrest Asset Management Group LLC decreased its holdings in South State Corp (NASDAQ:SSB) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 630,237 shares of the bank’s stock after selling 2,663 shares during the quarter. Silvercrest Asset Management Group LLC owned 1.85% of South State worth $46,429,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Holocene Advisors LP grew its position in South State by 7.0% during the 2nd quarter. Holocene Advisors LP now owns 5,450 shares of the bank’s stock worth $402,000 after purchasing an additional 357 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in South State during the 2nd quarter worth approximately $217,000. Earnest Partners LLC grew its position in South State by 25.2% during the 2nd quarter. Earnest Partners LLC now owns 1,017,729 shares of the bank’s stock worth $74,976,000 after purchasing an additional 204,920 shares in the last quarter. HighTower Advisors LLC purchased a new position in South State during the 2nd quarter worth approximately $244,000. Finally, Parametric Portfolio Associates LLC grew its position in South State by 3.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 46,822 shares of the bank’s stock worth $3,449,000 after purchasing an additional 1,623 shares in the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

SSB has been the topic of several research analyst reports. Zacks Investment Research cut shares of South State from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine raised shares of South State from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Stephens reissued a “sell” rating and set a $63.00 target price on shares of South State in a research note on Wednesday, August 7th. Finally, BidaskClub raised shares of South State from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $75.67.

Shares of NASDAQ:SSB traded down $0.35 during trading on Wednesday, reaching $76.94. 2,283 shares of the company traded hands, compared to its average volume of 130,248. The firm has a fifty day simple moving average of $75.05 and a 200 day simple moving average of $72.74. The firm has a market cap of $2.66 billion, a P/E ratio of 13.99 and a beta of 1.35. South State Corp has a 1-year low of $56.55 and a 1-year high of $85.50. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.34.

South State (NASDAQ:SSB) last issued its earnings results on Monday, July 29th. The bank reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. South State had a net margin of 25.33% and a return on equity of 8.11%. The company had revenue of $164.80 million during the quarter, compared to analyst estimates of $159.75 million. During the same quarter last year, the business posted $1.43 EPS. As a group, research analysts anticipate that South State Corp will post 5.49 EPS for the current year.

In other South State news, CFO John C. Pollok sold 7,434 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $75.00, for a total transaction of $557,550.00. Following the completion of the transaction, the chief financial officer now owns 99,346 shares of the company’s stock, valued at approximately $7,450,950. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert R. Horger sold 8,339 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $75.00, for a total transaction of $625,425.00. Following the transaction, the director now directly owns 75,231 shares of the company’s stock, valued at approximately $5,642,325. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by insiders.

South State Company Profile

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

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