South Atlantic Bancshares (OTCMKTS:SABK) Trading 0.3% Higher – Here’s Why

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) rose 0.3% on Wednesday . The company traded as high as $15.85 and last traded at $15.50. Approximately 15,700 shares changed hands during trading, an increase of 307% from the average daily volume of 3,862 shares. The stock had previously closed at $15.45.

Analyst Upgrades and Downgrades

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 report on Tuesday, December 3rd.

South Atlantic Bancshares Stock Performance

The company has a 50 day moving average of $15.67 and a two-hundred day moving average of $14.51. The stock has a market capitalization of $117.32 million, a PE ratio of 13.03 and a beta of 0.38.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $24.51 million during the quarter, compared to analyst estimates of $12.30 million. As a group, research analysts predict that South Atlantic Bancshares, Inc. 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.