California Public Employees Retirement System Has $3.26 Million Stake in South State Co. (SSB)

California Public Employees Retirement System grew its position in South State Co. (NASDAQ:SSB) by 3.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,174 shares of the bank’s stock after purchasing an additional 1,274 shares during the quarter. California Public Employees Retirement System’s holdings in South State were worth $3,257,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in SSB. SG Americas Securities LLC grew its holdings in shares of South State by 1.3% during the 2nd quarter. SG Americas Securities LLC now owns 1,570 shares of the bank’s stock valued at $135,000 after purchasing an additional 20 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of South State by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 9,902 shares of the bank’s stock valued at $849,000 after purchasing an additional 789 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of South State by 435.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,538 shares of the bank’s stock valued at $303,000 after purchasing an additional 2,877 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of South State by 66.0% during the 2nd quarter. Principal Financial Group Inc. now owns 5,208 shares of the bank’s stock valued at $446,000 after purchasing an additional 2,070 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of South State by 2.2% during the 2nd quarter. Swiss National Bank now owns 46,552 shares of the bank’s stock valued at $3,990,000 after purchasing an additional 1,000 shares during the last quarter. 55.72% of the stock is currently owned by institutional investors.

Shares of South State Co. (NASDAQ SSB) opened at $91.40 on Friday. South State Co. has a 1-year low of $78.60 and a 1-year high of $94.50. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3,354.33, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09.

South State (NASDAQ:SSB) last posted its earnings results on Tuesday, October 24th. The bank reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.02. South State had a net margin of 20.48% and a return on equity of 8.85%. The firm had revenue of $136.36 million for the quarter, compared to analyst estimates of $139.85 million. During the same period in the previous year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. equities analysts predict that South State Co. will post 4.72 earnings per share for the current fiscal year.

In other news, President John F. Windley sold 7,258 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $90.93, for a total value of $659,969.94. Following the sale, the president now directly owns 37,764 shares of the company’s stock, valued at approximately $3,433,880.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James C. Cherry sold 16,255 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $89.01, for a total transaction of $1,446,857.55. Following the completion of the sale, the director now directly owns 23,007 shares in the company, valued at $2,047,853.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,620 shares of company stock worth $6,611,006 over the last three months. Insiders own 2.78% of the company’s stock.

Several brokerages recently issued reports on SSB. Zacks Investment Research raised shares of South State from a “hold” rating to a “strong-buy” rating and set a $102.00 price target on the stock in a report on Thursday. BidaskClub lowered shares of South State from a “sell” rating to a “strong sell” rating in a report on Wednesday. Brean Capital reissued a “hold” rating on shares of South State in a report on Tuesday, January 2nd. Finally, SunTrust Banks reissued a “buy” rating and set a $107.00 target price on shares of South State in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $98.50.

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South State Company 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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Institutional Ownership by Quarter for South State (NASDAQ:SSB)

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