South State (NASDAQ:SSB) issued its quarterly earnings results on Monday, April 29th. The bank reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26, Briefing.com reports. South State had a return on equity of 8.27% and a net margin of 25.49%. The firm had revenue of $155.33 million for the quarter, compared to analyst estimates of $158.86 million. During the same period in the previous year, the company posted $1.39 earnings per share.
Shares of SSB opened at $72.36 on Thursday. The company has a market capitalization of $2.51 billion, a PE ratio of 13.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.99 and a current ratio of 0.99. South State has a one year low of $56.55 and a one year high of $93.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a $0.40 dividend. This is an increase from South State’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, May 9th. South State’s payout ratio is presently 29.09%.
In related news, insider Keith S. Rainwater sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $71.00, for a total value of $35,500.00. Following the completion of the transaction, the insider now owns 6,146 shares in the company, valued at approximately $436,366. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John F. Windley sold 3,947 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $71.01, for a total transaction of $280,276.47. Following the completion of the transaction, the president now owns 39,021 shares of the company’s stock, valued at approximately $2,770,881.21. The disclosure for this sale can be found here. Insiders sold a total of 6,232 shares of company stock worth $451,365 over the last three months. 2.05% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of SSB. Vanguard Group Inc increased its position in shares of South State by 1.5% during the third quarter. Vanguard Group Inc now owns 3,214,729 shares of the bank’s stock worth $263,609,000 after acquiring an additional 47,669 shares in the last quarter. Vanguard Group Inc. increased its position in shares of South State by 1.5% during the third quarter. Vanguard Group Inc. now owns 3,214,729 shares of the bank’s stock worth $263,609,000 after acquiring an additional 47,669 shares in the last quarter. Wellington Management Group LLP increased its position in shares of South State by 0.6% during the first quarter. Wellington Management Group LLP now owns 2,507,341 shares of the bank’s stock worth $171,352,000 after acquiring an additional 15,746 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of South State by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,758,041 shares of the bank’s stock worth $120,146,000 after acquiring an additional 182,934 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of South State by 3.8% during the first quarter. Victory Capital Management Inc. now owns 1,217,236 shares of the bank’s stock worth $83,186,000 after acquiring an additional 44,214 shares in the last quarter. Institutional investors own 79.73% of the company’s stock.
WARNING: “South State (SSB) Announces Earnings Results” was first posted by Mayfield Recorder and is owned by of Mayfield Recorder. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://mayfieldrecorder.com/2019/05/16/south-state-ssb-announces-quarterly-earnings-results-meets-estimates.html.
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.
Recommended Story: What is a growth and income fund?
Receive News & Ratings for South State Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South State and related companies with MarketBeat.com's FREE daily email newsletter.