Dimensional Fund Advisors LP Sells 12,541 Shares of South State Corporation (NASDAQ:SSB)

Dimensional Fund Advisors LP trimmed its holdings in shares of South State Corporation (NASDAQ:SSB) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 958,267 shares of the bank’s stock after selling 12,541 shares during the period. Dimensional Fund Advisors LP owned 3.29% of South State Corporation worth $82,125,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SSB. Strs Ohio grew its position in South State Corporation by 116.7% in the 1st quarter. Strs Ohio now owns 1,300 shares of the bank’s stock valued at $116,000 after buying an additional 700 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of South State Corporation by 47.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,540 shares of the bank’s stock valued at $132,000 after purchasing an additional 497 shares in the last quarter. Bank of Montreal Can boosted its position in shares of South State Corporation by 2.2% during the 2nd quarter. Bank of Montreal Can now owns 1,550 shares of the bank’s stock valued at $133,000 after purchasing an additional 34 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of South State Corporation 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 in the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of South State Corporation by 48.5% during the 2nd quarter. D.A. Davidson & CO. now owns 1,879 shares of the bank’s stock valued at $161,000 after purchasing an additional 614 shares in the last quarter. 66.72% of the stock is currently owned by institutional investors.

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Several research analysts have commented on SSB shares. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $98.00 target price on shares of South State Corporation in a report on Thursday, October 12th. Piper Jaffray Companies reissued a “neutral” rating and issued a $90.00 price target on shares of South State Corporation in a research report on Thursday, October 5th. BidaskClub raised shares of South State Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 5th. Zacks Investment Research raised shares of South State Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Keefe, Bruyette & Woods raised shares of South State Corporation from a “market perform” rating to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. South State Corporation has a consensus rating of “Buy” and a consensus price target of $94.33.

South State Corporation (NASDAQ SSB) opened at 92.40 on Tuesday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 24.14 and a beta of 1.10. The stock has a 50 day moving average of $85.85 and a 200-day moving average of $85.52. South State Corporation has a 52-week low of $70.75 and a 52-week high of $93.40.

South State Corporation (NASDAQ:SSB) last announced its earnings results on Friday, July 21st. The bank reported $1.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.18. The company had revenue of $136.61 million for the quarter, compared to analysts’ expectations of $137.00 million. South State Corporation had a return on equity of 9.15% and a net margin of 20.00%. On average, analysts forecast that South State Corporation will post $4.75 EPS for the current year.

In related news, CEO Robert R. Hill, Jr. sold 2,831 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $82.10, for a total transaction of $232,425.10. Following the completion of the transaction, the chief executive officer now directly owns 140,215 shares in the company, valued at $11,511,651.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Joe E. Burns sold 500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $83.39, for a total value of $41,695.00. Following the transaction, the insider now owns 39,947 shares of the company’s stock, valued at $3,331,180.33. The disclosure for this sale can be found here. Insiders have sold 3,581 shares of company stock worth $294,408 over the last quarter. 2.78% of the stock is currently owned by corporate insiders.

South State Corporation 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.

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

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