South State Co. Plans Quarterly Dividend of $0.33 (SSB)
South State Co. (NASDAQ:SSB) declared a quarterly dividend on Friday, April 21st. Shareholders of record on Friday, May 12th will be paid a dividend of 0.33 per share by the bank on Friday, May 19th. This represents a $1.32 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Wednesday, May 10th.
Shares of South State (NASDAQ:SSB) traded up 0.28% on Friday, reaching $90.20. The company’s stock had a trading volume of 158,331 shares. The firm has a 50-day moving average price of $88.35 and a 200 day moving average price of $84.81. The firm has a market capitalization of $2.17 billion, a PE ratio of 21.58 and a beta of 1.01. South State has a one year low of $63.83 and a one year high of $93.40.
South State (NASDAQ:SSB) last issued its earnings results on Friday, January 27th. The bank reported $1.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.15. The company earned $113.43 million during the quarter, compared to analyst estimates of $117.50 million. South State had a return on equity of 9.98% and a net margin of 21.85%. On average, analysts anticipate that South State will post $4.73 earnings per share for the current fiscal year.
In other South State news, Director Alton Clarence Phillips sold 1,000 shares of the stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $91.65, for a total transaction of $91,650.00. Following the sale, the director now directly owns 11,467 shares of the company’s stock, valued at approximately $1,050,950.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Oswald Fogle sold 3,321 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $90.00, for a total value of $298,890.00. Following the sale, the director now directly owns 14,244 shares in the company, valued at $1,281,960. The disclosure for this sale can be found here. Insiders have sold a total of 17,629 shares of company stock worth $1,581,471 over the last ninety days. 4.18% of the stock is owned by insiders.
A number of brokerages recently issued reports on SSB. Zacks Investment Research lowered South State from a “hold” rating to a “sell” rating in a research note on Thursday, April 13th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 target price on shares of South State in a research note on Monday, April 10th. Finally, Brean Capital restated a “hold” rating on shares of South State in a research note on Monday, January 30th.
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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