South State Corp (SSB) Insider Sells $295,031.64 in Stock
South State Corp (NASDAQ:SSB) insider Joe E. Burns sold 4,261 shares of the company’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $69.24, for a total transaction of $295,031.64. Following the completion of the sale, the insider now owns 37,590 shares of the company’s stock, valued at approximately $2,602,731.60. The transaction was disclosed in a filing with the SEC, which is available through this link.
NASDAQ SSB opened at $68.64 on Wednesday. South State Corp has a 1 year low of $61.26 and a 1 year high of $94.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $2.51 billion, a PE ratio of 14.15 and a beta of 1.07.
South State (NASDAQ:SSB) last posted its earnings results on Monday, October 22nd. The bank reported $1.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.11). South State had a return on equity of 8.32% and a net margin of 19.08%. The firm had revenue of $160.32 million during the quarter, compared to the consensus estimate of $167.07 million. During the same quarter in the previous year, the company earned $1.22 EPS. Analysts forecast that South State Corp will post 5.49 earnings per share for the current fiscal year.
Several research firms have recently issued reports on SSB. BidaskClub upgraded shares of South State from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Brean Capital reiterated a “hold” rating on shares of South State in a research note on Monday, July 30th. FIG Partners lowered shares of South State from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. Zacks Investment Research lowered shares of South State from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. Finally, Sandler O’Neill reiterated a “hold” rating and issued a $81.00 target price on shares of South State in a research note on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. South State has an average rating of “Hold” and a consensus price target of $88.40.
Large investors have recently modified their holdings of the stock. UBS Group AG boosted its holdings in shares of South State by 109.3% in the 1st quarter. UBS Group AG now owns 1,877 shares of the bank’s stock worth $160,000 after buying an additional 980 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of South State in the 2nd quarter worth about $232,000. First National Bank of Omaha purchased a new position in shares of South State in the 3rd quarter worth about $240,000. Glenmede Trust Co. NA boosted its holdings in shares of South State by 59.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,508 shares of the bank’s stock worth $287,000 after buying an additional 1,313 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of South State by 46.6% in the 2nd quarter. Sei Investments Co. now owns 3,783 shares of the bank’s stock worth $327,000 after buying an additional 1,202 shares during the last quarter. 76.39% of the stock is currently owned by institutional investors.
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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, 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, ATM processing, and wealth management and trust services.
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