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.
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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