South State Co. (NASDAQ:SSB) CEO Robert R. Hill, Jr. sold 9,272 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $91.01, for a total transaction of $843,844.72. Following the sale, the chief executive officer now owns 111,879 shares of the company’s stock, valued at $10,182,107.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of SSB traded down $0.80 during mid-day trading on Monday, reaching $84.50. The stock had a trading volume of 124,274 shares, compared to its average volume of 153,492. The firm has a market cap of $3,137.77, a P/E ratio of 17.42, a PEG ratio of 1.83 and a beta of 1.01. South State Co. has a 12 month low of $78.60 and a 12 month high of $94.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.93 and a quick ratio of 0.93.
South State (NASDAQ:SSB) last released its earnings results on Tuesday, January 23rd. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.19 by $0.11. South State had a net margin of 15.22% and a return on equity of 8.15%. The firm had revenue of $151.37 million for the quarter, compared to the consensus estimate of $147.91 million. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. equities analysts anticipate that South State Co. will post 5.81 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new position in shares of South State in the fourth quarter worth $111,000. Glenmede Trust Co. NA lifted its holdings in shares of South State by 156.6% in the fourth quarter. Glenmede Trust Co. NA now owns 1,709 shares of the bank’s stock worth $148,000 after buying an additional 1,043 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of South State by 63.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,741 shares of the bank’s stock worth $152,000 after buying an additional 675 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of South State by 38.7% in the fourth quarter. Bank of Montreal Can now owns 2,150 shares of the bank’s stock worth $187,000 after buying an additional 600 shares in the last quarter. Finally, TNB Financial purchased a new position in shares of South State in the fourth quarter worth $200,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on SSB shares. Zacks Investment Research lowered shares of South State from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BidaskClub upgraded shares of South State from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. SunTrust Banks reiterated a “buy” rating and issued a $108.00 price target on shares of South State in a research report on Wednesday, January 24th. Brean Capital reiterated a “hold” rating on shares of South State in a research report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $102.00 price target on shares of South State in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $99.20.
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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.
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