South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Short Interest Down 30.0% in November

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 700 shares, a decrease of 30.0% from the October 31st total of 1,000 shares. Based on an average daily trading volume, of 44,600 shares, the short-interest ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $17.25 price target for the company in a research note on Tuesday, November 12th.

South Atlantic Bancshares Price Performance

Shares of OTCMKTS:SABK traded down $0.10 during trading on Friday, reaching $15.40. 4,786 shares of the company were exchanged, compared to its average volume of 7,747. The firm has a market capitalization of $116.55 million, a PE ratio of 12.94 and a beta of 0.37. The business’s fifty day simple moving average is $14.66 and its 200-day simple moving average is $13.66. South Atlantic Bancshares has a 12-month low of $9.94 and a 12-month high of $20.10.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $24.51 million for the quarter, compared to analysts’ expectations of $12.30 million. On average, sell-side analysts anticipate that South Atlantic Bancshares will post 1.35 EPS for the current fiscal year.

About South Atlantic Bancshares

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.