South State Co. (SSB) Stake Raised by GSA Capital Partners LLP
GSA Capital Partners LLP boosted its position in South State Co. (NASDAQ:SSB) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,182 shares of the company’s stock after buying an additional 82 shares during the period. GSA Capital Partners LLP’s holdings in South State were worth $453,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Roberts Glore & Co. Inc. IL bought a new stake in shares of South State during the third quarter worth about $206,000. 1st Global Advisors Inc. bought a new stake in shares of South State during the third quarter worth about $213,000. Trexquant Investment LP bought a new stake in shares of South State during the fourth quarter worth about $287,000. Gamco Investors INC. ET AL bought a new stake in shares of South State during the fourth quarter worth about $350,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of South State during the fourth quarter worth about $367,000. Hedge funds and other institutional investors own 57.55% of the company’s stock.
Shares of South State Co. (NASDAQ:SSB) opened at 89.95 on Tuesday. The company’s 50-day moving average is $89.25 and its 200 day moving average is $82.80. South State Co. has a 1-year low of $61.83 and a 1-year high of $93.40. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 21.52 and a beta of 1.01.
South State (NASDAQ:SSB) last posted its quarterly earnings data on Friday, January 27th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. South State had a net margin of 21.85% and a return on equity of 9.98%. On average, equities research analysts expect that South State Co. will post $4.70 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 17th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.47%. The ex-dividend date was Wednesday, February 15th. This is a boost from South State’s previous quarterly dividend of $0.32. South State’s dividend payout ratio (DPR) is presently 30.62%.
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A number of equities research analysts have recently issued reports on SSB shares. Keefe, Bruyette & Woods lowered shares of South State from an “outperform” rating to a “market perform” rating and upped their target price for the company from $83.00 to $88.00 in a research note on Tuesday, November 29th. Brean Capital restated a “hold” rating on shares of South State in a research note on Monday, January 30th. Finally, Zacks Investment Research lowered shares of South State from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd.
In other South State news, insider John C. Pollok sold 8,483 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $89.27, for a total value of $757,277.41. Following the completion of the sale, the insider now owns 83,227 shares in the company, valued at approximately $7,429,674.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Oswald Fogle sold 3,321 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $90.00, for a total transaction of $298,890.00. Following the completion of the sale, the director now owns 14,244 shares of the company’s stock, valued at approximately $1,281,960. The disclosure for this sale can be found here. Insiders sold a total of 17,629 shares of company stock valued at $1,581,471 in the last 90 days. Corporate insiders own 4.18% of the company’s stock.
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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