Copper Rock Capital Partners LLC Has $37.099 Million Stake in South State Co. (SSB)

Copper Rock Capital Partners LLC boosted its stake in South State Co. (NASDAQ:SSB) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 409,029 shares of the bank’s stock after buying an additional 6,907 shares during the period. South State accounts for 2.3% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 13th largest position. Copper Rock Capital Partners LLC owned 1.70% of South State worth $37,099,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SSB. Highbridge Capital Management LLC bought a new position in South State during the fourth quarter valued at about $686,000. Teachers Advisors LLC raised its position in South State by 49.5% in the fourth quarter. Teachers Advisors LLC now owns 75,352 shares of the bank’s stock valued at $6,586,000 after buying an additional 24,945 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in South State by 195.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 274,049 shares of the bank’s stock valued at $23,952,000 after buying an additional 181,439 shares in the last quarter. Norges Bank bought a new position in South State during the fourth quarter valued at about $20,277,000. Finally, Barings LLC bought a new position in South State during the fourth quarter valued at about $385,000. Hedge funds and other institutional investors own 57.55% of the company’s stock.

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

Shares of South State Co. (NASDAQ:SSB) opened at 89.95 on Friday. The stock has a 50 day moving average price of $88.35 and a 200-day moving average price of $84.81. South State Co. has a 52 week low of $63.83 and a 52 week high of $93.40. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.52 and a beta of 1.01.

South State (NASDAQ:SSB) last released 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. South State had a return on equity of 9.98% and a net margin of 21.85%. The business earned $113.43 million during the quarter, compared to the consensus estimate of $117.50 million. On average, equities research analysts forecast that South State Co. will post $4.73 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was posted by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of international trademark and copyright law. The correct version of this piece can be accessed at https://www.com-unik.info/2017/04/21/copper-rock-capital-partners-llc-increases-stake-in-south-state-co-ssb-updated.html.

A number of analysts have recently weighed in on the company. 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.

In other South State news, Director Alton Clarence Phillips sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $91.65, for a total value of $91,650.00. Following the completion of the sale, the director now directly owns 11,467 shares of the company’s stock, valued at $1,050,950.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Oswald Fogle sold 3,000 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $91.62, for a total value of $274,860.00. Following the completion of the sale, the director now directly owns 14,144 shares of the company’s stock, valued at $1,295,873.28. The disclosure for this sale can be found here. Insiders sold 17,629 shares of company stock valued at $1,581,471 over the last three months. Company insiders own 4.18% of the company’s stock.

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.

5 Day Chart for NASDAQ:SSB

What are top analysts saying about South State Co.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for South State Co. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit