Dalton Greiner Hartman Maher & Co. reduced its stake in South State Corp (NASDAQ:SSB) by 4.5% during the 4th quarter, Holdings Channel reports. The firm owned 191,731 shares of the bank’s stock after selling 8,946 shares during the period. South State makes up 1.1% of Dalton Greiner Hartman Maher & Co.’s holdings, making the stock its 23rd biggest holding. Dalton Greiner Hartman Maher & Co.’s holdings in South State were worth $16,633,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SSB. Northern Trust Corp raised its stake in South State by 1.2% during the 2nd quarter. Northern Trust Corp now owns 798,864 shares of the bank’s stock worth $58,851,000 after buying an additional 9,524 shares during the period. Evoke Wealth LLC acquired a new stake in South State during the 3rd quarter worth $26,000. Rhumbline Advisers raised its stake in South State by 4.1% during the 3rd quarter. Rhumbline Advisers now owns 64,382 shares of the bank’s stock worth $4,848,000 after buying an additional 2,532 shares during the period. California Public Employees Retirement System raised its stake in South State by 44.0% during the 3rd quarter. California Public Employees Retirement System now owns 91,921 shares of the bank’s stock worth $6,922,000 after buying an additional 28,092 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in South State during the 3rd quarter worth $165,000. Institutional investors and hedge funds own 79.13% of the company’s stock.
In other South State news, insider Keith S. Rainwater sold 519 shares of South State stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $82.00, for a total value of $42,558.00. Following the sale, the insider now owns 6,211 shares of the company’s stock, valued at approximately $509,302. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.05% of the company’s stock.
South State (NASDAQ:SSB) last released its quarterly earnings results on Monday, October 28th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.06. South State had a return on equity of 8.22% and a net margin of 25.53%. The firm had revenue of $164.96 million for the quarter, compared to the consensus estimate of $163.79 million. During the same quarter last year, the business posted $1.33 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts forecast that South State Corp will post 5.58 EPS for the current fiscal year.
Several analysts recently commented on the company. BidaskClub downgraded South State from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. SunTrust Banks raised their price objective on South State from $90.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Stephens raised South State from an “underweight” rating to an “equal weight” rating in a research note on Monday, November 4th. Finally, ValuEngine raised South State from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $79.67.
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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