South State Corp. (NASDAQ:SSB) insider Joe E. Burns sold 5,005 shares of the company’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $72.89, for a total value of $364,814.45. Following the completion of the transaction, the insider now owns 48,361 shares of the company’s stock, valued at approximately $3,525,033.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
South State Corp. (NASDAQ:SSB) opened at 72.56 on Monday. The stock’s 50 day moving average price is $74.49 and its 200 day moving average price is $71.75. The stock has a market capitalization of $1.74 billion, a PE ratio of 17.11 and a beta of 1.10. South State Corp. has a 1-year low of $59.19 and a 1-year high of $81.80.
South State Corp. (NASDAQ:SSB) last announced its quarterly earnings data on Friday, October 21st. The company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.01. South State Corp. had a return on equity of 10.08% and a net margin of 22.27%. Equities research analysts forecast that South State Corp. will post $4.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 11th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This is a positive change from South State Corp.’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a yield of 1.76%. South State Corp.’s dividend payout ratio (DPR) is presently 29.31%.
Large investors have recently made changes to their positions in the company. A.R.T. Advisors LLC raised its stake in shares of South State Corp. by 18.1% in the first quarter. A.R.T. Advisors LLC now owns 8,499 shares of the company’s stock worth $545,000 after buying an additional 1,300 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in South State Corp. during the first quarter worth $1,029,000. Renaissance Technologies LLC increased its stake in South State Corp. by 22.7% in the first quarter. Renaissance Technologies LLC now owns 220,983 shares of the company’s stock worth $14,194,000 after buying an additional 40,900 shares during the period. Wellington Management Group LLP increased its stake in South State Corp. by 5.1% in the first quarter. Wellington Management Group LLP now owns 723,931 shares of the company’s stock worth $46,498,000 after buying an additional 35,409 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in South State Corp. by 45.1% in the first quarter. Loomis Sayles & Co. L P now owns 370,938 shares of the company’s stock worth $23,825,000 after buying an additional 115,217 shares during the period. Hedge funds and other institutional investors own 68.25% of the company’s stock.
SSB has been the subject of a number of analyst reports. Zacks Investment Research upgraded South State Corp. from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a report on Tuesday, October 25th. FIG Partners cut South State Corp. from an “outperform” rating to a “market-perform” rating in a report on Sunday, July 24th.
About South State Corp.