South State Corporation (NASDAQ:SSB) Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the completion of the sale, the director now directly owns 23,007 shares of the company’s stock, valued at approximately $2,047,853.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of South State Corporation (NASDAQ:SSB) traded down $0.40 during trading hours on Friday, reaching $88.00. 178,325 shares of the company’s stock traded hands, compared to its average volume of 121,121. South State Corporation has a 1 year low of $78.60 and a 1 year high of $94.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $3,255.13, a P/E ratio of 18.85, a PEG ratio of 2.35 and a beta of 1.09.

South State (NASDAQ:SSB) last issued its earnings results on Tuesday, October 24th. The bank reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. South State had a net margin of 20.48% and a return on equity of 8.85%. The firm had revenue of $136.36 million during the quarter, compared to the consensus estimate of $139.85 million. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. equities analysts forecast that South State Corporation will post 4.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, November 9th. South State’s dividend payout ratio (DPR) is presently 33.85%.

Several equities research analysts have commented on SSB shares. Brean Capital reaffirmed a “hold” rating on shares of South State in a research note on Monday, October 23rd. BidaskClub raised shares of South State from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Zacks Investment Research downgraded shares of South State from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. SunTrust Banks upped their target price on shares of South State from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $90.00 target price on shares of South State in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. South State has a consensus rating of “Hold” and an average target price of $97.33.

Several institutional investors have recently added to or reduced their stakes in SSB. Victory Capital Management Inc. boosted its holdings in shares of South State by 23.1% in the third quarter. Victory Capital Management Inc. now owns 1,070,254 shares of the bank’s stock valued at $96,376,000 after buying an additional 201,107 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of South State by 22.9% in the second quarter. Goldman Sachs Group Inc. now owns 965,758 shares of the bank’s stock valued at $82,766,000 after buying an additional 179,644 shares during the period. Wasatch Advisors Inc. boosted its holdings in shares of South State by 46.6% in the second quarter. Wasatch Advisors Inc. now owns 521,307 shares of the bank’s stock valued at $44,676,000 after buying an additional 165,801 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of South State by 37.8% in the second quarter. Westwood Holdings Group Inc. now owns 505,381 shares of the bank’s stock valued at $43,269,000 after buying an additional 138,626 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of South State by 4.9% in the second quarter. BlackRock Inc. now owns 1,991,637 shares of the bank’s stock valued at $170,684,000 after buying an additional 92,562 shares during the period. Institutional investors own 69.94% of the company’s stock.

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About South State

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 (NASDAQ:SSB)

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