Dalton Greiner Hartman Maher & Co. acquired a new position in shares of South State Co. (NASDAQ:SSB) during the fourth quarter, HoldingsChannel reports. The fund acquired 21,703 shares of the bank’s stock, valued at approximately $1,891,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in South State by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,227,745 shares of the bank’s stock worth $190,918,000 after purchasing an additional 38,733 shares in the last quarter. BlackRock Inc. lifted its holdings in South State by 4.9% during the 2nd quarter. BlackRock Inc. now owns 1,991,637 shares of the bank’s stock worth $170,684,000 after purchasing an additional 92,562 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in South State by 23.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,070,254 shares of the bank’s stock worth $96,376,000 after purchasing an additional 201,107 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in South State by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,016,792 shares of the bank’s stock worth $91,561,000 after purchasing an additional 58,525 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in South State by 22.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 965,758 shares of the bank’s stock worth $82,766,000 after purchasing an additional 179,644 shares in the last quarter. 55.72% of the stock is currently owned by institutional investors and hedge funds.
South State Co. (NASDAQ SSB) opened at $91.40 on Friday. The firm has a market capitalization of $3,350.00, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.20 and a beta of 1.09. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.05. South State Co. has a one year low of $78.60 and a one year high of $94.50.
A number of analysts recently issued reports on SSB shares. Brean Capital reissued a “hold” rating on shares of South State in a report on Monday, October 23rd. BidaskClub upgraded South State from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 5th. Zacks Investment Research lowered South State from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. SunTrust Banks upped their target price on South State from $98.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $90.00 target price on shares of South State in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. South State presently has an average rating of “Hold” and a consensus price target of $98.50.
In other news, Director James C. Cherry sold 16,255 shares of the stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the transaction, the director now directly owns 23,007 shares in the company, valued at approximately $2,047,853.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President John F. Windley sold 7,258 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $90.93, for a total value of $659,969.94. Following the transaction, the president now owns 37,764 shares in the company, valued at $3,433,880.52. The disclosure for this sale can be found here. Insiders sold a total of 72,620 shares of company stock worth $6,611,006 over the last 90 days. Corporate insiders own 2.78% of the company’s stock.
South State Profile
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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