South Atlantic Bancshares (OTCMKTS:SABK) Announces Earnings Results

South Atlantic Bancshares (OTCMKTS:SABK) released its earnings results on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02, Zacks reports.

South Atlantic Bancshares Stock Performance

Shares of OTCMKTS:SABK remained flat at $15.75 during trading on Thursday. The stock had a trading volume of 4 shares, compared to its average volume of 3,230. South Atlantic Bancshares has a one year low of $10.45 and a one year high of $20.10. The stock has a fifty day moving average price of $15.81 and a two-hundred day moving average price of $14.63. The stock has a market capitalization of $119.21 million, a price-to-earnings ratio of 13.24 and a beta of 0.38.

Wall Street Analyst Weigh In

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

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.