Todays Report: The 5,005 Shares of Stock are sold by South State Corp. (SSB) Insider Joe E. Burns

The 5,005 Shares of Stock are sold by South State Corp. (SSB) Insider Joe E. Burns

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.

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