South State Corp (NASDAQ:SSB) Director Robert H. Demere, Jr. Acquires 3,000 Shares

South State Corp (NASDAQ:SSB) Director Robert H. Demere, Jr. bought 3,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was purchased at an average price of $68.40 per share, for a total transaction of $205,200.00. Following the completion of the purchase, the director now directly owns 49,081 shares in the company, valued at approximately $3,357,140.40. The transaction was disclosed in a filing with the SEC, which is available through this link.

NASDAQ SSB opened at $69.99 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 12.73 and a beta of 1.29. South State Corp has a 52-week low of $56.55 and a 52-week high of $91.25.

South State (NASDAQ:SSB) last posted its quarterly earnings results on Monday, April 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $155.33 million for the quarter, compared to analyst estimates of $158.86 million. South State had a net margin of 25.49% and a return on equity of 8.27%. During the same period last year, the business posted $1.39 EPS. Research analysts forecast that South State Corp will post 5.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.29%. This is a positive change from South State’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, May 9th. South State’s dividend payout ratio (DPR) is currently 29.09%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. ETF Managers Group LLC lifted its holdings in shares of South State by 8.8% during the 1st quarter. ETF Managers Group LLC now owns 1,693 shares of the bank’s stock worth $116,000 after acquiring an additional 137 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of South State by 4.9% during the 1st quarter. Hsbc Holdings PLC now owns 4,422 shares of the bank’s stock worth $302,000 after acquiring an additional 205 shares during the period. Bank of Montreal Can lifted its holdings in South State by 11.0% during the 4th quarter. Bank of Montreal Can now owns 2,664 shares of the bank’s stock valued at $160,000 after purchasing an additional 264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in South State by 16.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,774 shares of the bank’s stock valued at $166,000 after purchasing an additional 396 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in South State during the 4th quarter valued at about $26,000. Institutional investors own 79.22% of the company’s stock.

Several analysts have issued reports on SSB shares. Zacks Investment Research upgraded shares of South State from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub upgraded shares of South State from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. SunTrust Banks raised their price target on shares of South State to $85.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 1st. Finally, TheStreet upgraded shares of South State from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $78.40.

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South State Company Profile

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 services, 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, and ATM processing services.

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Insider Buying and Selling by Quarter for South State (NASDAQ:SSB)

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