South Atlantic Bancshares (OTCMKTS:SABK) Issues Quarterly Earnings Results

South Atlantic Bancshares (OTCMKTS:SABK) announced its quarterly earnings results on Thursday. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02, Zacks reports.

South Atlantic Bancshares Stock Performance

Shares of SABK stock remained flat at $15.75 on Thursday. 4 shares of the stock were exchanged, compared to its average volume of 3,230. South Atlantic Bancshares has a twelve month low of $10.45 and a twelve month high of $20.10. The firm has a 50-day moving average of $15.81 and a 200-day moving average of $14.63. The company has a market cap of $119.21 million, a P/E ratio of 13.24 and a beta of 0.38.

Wall Street Analysts Forecast Growth

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

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.