Jane Street Group LLC Invests $301,000 in South State Corporation (SSB)

Jane Street Group LLC bought a new position in shares of South State Corporation (NASDAQ:SSB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,347 shares of the bank’s stock, valued at approximately $301,000.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in shares of South State by 47.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock worth $132,000 after purchasing an additional 497 shares in the last quarter. Bank of Montreal Can grew its position in shares of South State by 2.2% during the second quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock worth $133,000 after purchasing an additional 34 shares in the last quarter. SG Americas Securities LLC grew its position in shares of South State by 1.3% during the second quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock worth $135,000 after purchasing an additional 20 shares in the last quarter. Strs Ohio grew its position in shares of South State by 38.5% during the second quarter. Strs Ohio now owns 1,800 shares of the bank’s stock worth $154,000 after purchasing an additional 500 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of South State by 48.5% during the second quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock worth $161,000 after purchasing an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 55.72% of the company’s stock.

SSB has been the subject of several research analyst reports. BidaskClub cut South State from a “buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised South State from a “sell” rating to a “hold” rating in a research note on Saturday, September 2nd. Brean Capital reissued a “hold” rating on shares of South State in a research note on Monday, October 30th. Finally, SunTrust Banks reissued a “buy” rating and set a $98.00 price target on shares of South State in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $97.33.

In related news, CEO Robert R. Hill, Jr. sold 13,024 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $91.85, for a total transaction of $1,196,254.40. Following the completion of the transaction, the chief executive officer now directly owns 133,121 shares of the company’s stock, valued at $12,227,163.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joe E. Burns sold 6,548 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $92.39, for a total value of $604,969.72. Following the completion of the sale, the insider now directly owns 37,595 shares of the company’s stock, valued at $3,473,402.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,620 shares of company stock valued at $6,611,006. 2.78% of the stock is owned by corporate insiders.

South State Corporation (NASDAQ SSB) opened at $89.25 on Thursday. South State Corporation has a one year low of $78.60 and a one year high of $94.50. The company has a market capitalization of $3,317.59, a P/E ratio of 19.21, a P/E/G ratio of 2.39 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.92 and a current ratio of 0.93.

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

COPYRIGHT VIOLATION NOTICE: “Jane Street Group LLC Invests $301,000 in South State Corporation (SSB)” was originally published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://sportsperspectives.com/2017/12/21/jane-street-group-llc-invests-301000-in-south-state-corporation-ssb.html.

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.

Want to see what other hedge funds are holding SSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South State Corporation (NASDAQ:SSB).

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

Receive News & Ratings for South State Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply