BRYN MAWR TRUST Co trimmed its position in South State Corp (NASDAQ:SSB) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,656 shares of the bank’s stock after selling 1,130 shares during the period. BRYN MAWR TRUST Co owned approximately 0.28% of South State worth $7,278,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its position in shares of South State by 35.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 763 shares of the bank’s stock valued at $57,000 after acquiring an additional 201 shares during the period. CWM LLC raised its holdings in South State by 5,404.8% during the 3rd quarter. CWM LLC now owns 1,156 shares of the bank’s stock worth $87,000 after buying an additional 1,135 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in South State during the 2nd quarter worth approximately $217,000. HighTower Advisors LLC acquired a new stake in South State during the 2nd quarter worth approximately $244,000. Finally, Holocene Advisors LP raised its holdings in South State by 7.0% during the 2nd quarter. Holocene Advisors LP now owns 5,450 shares of the bank’s stock worth $402,000 after buying an additional 357 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.
In other news, CFO John C. Pollok sold 7,434 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $75.00, for a total transaction of $557,550.00. Following the completion of the transaction, the chief financial officer now directly owns 99,346 shares of the company’s stock, valued at approximately $7,450,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James W. Roquemore sold 4,791 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $76.15, for a total transaction of $364,834.65. Following the transaction, the director now directly owns 37,515 shares of the company’s stock, valued at $2,856,767.25. The disclosure for this sale can be found here. Insiders have sold a total of 20,564 shares of company stock valued at $1,547,810 over the last ninety days. Company insiders own 2.05% of the company’s stock.
South State (NASDAQ:SSB) last issued its quarterly earnings results on Monday, July 29th. The bank reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.08. The company had revenue of $164.80 million during the quarter, compared to analysts’ expectations of $159.75 million. South State had a net margin of 25.33% and a return on equity of 8.11%. During the same period last year, the business earned $1.43 EPS. On average, sell-side analysts anticipate that South State Corp will post 5.49 earnings per share for the current fiscal year.
SSB has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of South State from a “buy” rating to a “hold” rating in a report on Friday, August 9th. SunTrust Banks set a $88.00 target price on shares of South State and gave the stock a “buy” rating in a report on Wednesday, September 18th. ValuEngine downgraded shares of South State from a “hold” rating to a “sell” rating in a report on Monday. Stephens restated a “sell” rating and set a $63.00 target price on shares of South State in a report on Wednesday, August 7th. Finally, BidaskClub downgraded shares of South State from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.67.
About South State
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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