South Atlantic Bancshares (OTCMKTS:SABK) Shares Down 3.3% – Should You Sell?

Shares of South Atlantic Bancshares, Inc. (OTCMKTS:SABK) dropped 3.3% during mid-day trading on Monday . The company traded as low as $14.31 and last traded at $14.50. Approximately 1,641 shares traded hands during trading, a decline of 53% from the average daily volume of 3,523 shares. The stock had previously closed at $14.99.

Analyst Ratings Changes

Separately, Janney Montgomery Scott raised South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, December 3rd.

South Atlantic Bancshares Price Performance

The firm has a market cap of $109.75 million, a PE ratio of 12.18 and a beta of 0.38. The business has a 50-day moving average price of $15.22 and a two-hundred day moving average price of $15.02.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Equities analysts expect that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current fiscal year.

South Atlantic Bancshares Dividend Announcement

The business also recently announced an annual dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.10 dividend. This represents a yield of 0.64%. The ex-dividend date was Friday, February 14th. South Atlantic Bancshares’s payout ratio is currently 7.63%.

South Atlantic Bancshares Company Profile

South Atlantic Bancshares, Inc operates as the bank holding company for South Atlantic Bank that provides consumer and commercial banking products and services to individuals, small businesses, and corporations in South Carolina. The company offers checking, money market, and saving accounts, as well as certificate of deposit, individual retirement, and health saving accounts; personal, auto, and recreation loans, as well as home equity and ready reserve overdraft line of credits, and commercial lending products; and credit cards.