US Bancorp DE lowered its position in South State Corporation (NASDAQ:SSB) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 13,695 shares of the bank’s stock after selling 109 shares during the period. US Bancorp DE’s holdings in South State Corporation were worth $1,174,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of South State Corporation by 2.2% in 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 last quarter. 1st Global Advisors Inc. raised its stake in shares of South State Corporation by 1.5% in the first quarter. 1st Global Advisors Inc. now owns 2,746 shares of the bank’s stock valued at $245,000 after buying an additional 40 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of South State Corporation by 1.5% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 4,300 shares of the bank’s stock valued at $369,000 after buying an additional 65 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of South State Corporation by 0.8% in the first quarter. Prudential Financial Inc. now owns 16,650 shares of the bank’s stock valued at $1,488,000 after buying an additional 130 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of South State Corporation by 1.0% in the first quarter. Parametric Portfolio Associates LLC now owns 21,714 shares of the bank’s stock valued at $1,940,000 after buying an additional 215 shares during the last quarter. Institutional investors and hedge funds own 63.05% of the company’s stock.

South State Corporation (NASDAQ:SSB) traded up 0.95% on Tuesday, hitting $84.70. 18,274 shares of the stock traded hands. The firm has a market capitalization of $2.46 billion, a PE ratio of 22.13 and a beta of 1.09. The stock has a 50 day moving average of $85.21 and a 200 day moving average of $86.98. South State Corporation has a 52 week low of $69.40 and a 52 week high of $93.40.

South State Corporation (NASDAQ:SSB) last announced its earnings results on Friday, July 21st. The bank reported $1.18 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.18. The company had revenue of $136.61 million during the quarter, compared to the consensus estimate of $137 million. South State Corporation had a net margin of 20.00% and a return on equity of 9.74%. Equities research analysts anticipate that South State Corporation will post $4.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.57%. South State Corporation’s dividend payout ratio is currently 34.11%.

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Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of South State Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of South State Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price target on shares of South State Corporation in a research note on Monday, April 10th. Stephens reiterated a “hold” rating on shares of South State Corporation in a research note on Friday, May 12th. Finally, Brean Capital reiterated a “hold” rating on shares of South State Corporation in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $96.50.

In other news, insider Keith S. Rainwater sold 300 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $86.10, for a total value of $25,830.00. Following the completion of the sale, the insider now owns 5,328 shares in the company, valued at $458,740.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joe E. Burns sold 1,950 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.00, for a total transaction of $165,750.00. Following the completion of the sale, the insider now owns 42,795 shares of the company’s stock, valued at approximately $3,637,575. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,765 shares of company stock valued at $832,259. 2.78% of the stock is currently owned by corporate insiders.

South State Corporation Company Profile

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.

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

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