South Atlantic Bancshares (OTCMKTS:SABK) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat Ratings reports. They currently have $19.00 price objective on the stock.

South Atlantic Bancshares Trading Up 2.2 %

SABK stock opened at $15.75 on Tuesday. The firm has a market capitalization of $119.20 million, a PE ratio of 13.24 and a beta of 0.37. South Atlantic Bancshares has a 1-year low of $10.07 and a 1-year high of $20.10. The business’s 50 day simple moving average is $14.69 and its 200 day simple moving average is $13.71.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $24.51 million during the quarter, compared to analyst estimates of $12.30 million. As a group, sell-side analysts predict 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.