South Atlantic Bancshares (SABK) Expected to Announce Quarterly Earnings on Thursday

South Atlantic Bancshares (OTCMKTS:SABK) is expected to issue its quarterly earnings data on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.39 per share for the quarter.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $24.51 million during the quarter, compared to analysts’ expectations of $12.30 million. On average, analysts expect South Atlantic Bancshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

South Atlantic Bancshares Stock Up 0.3 %

Shares of SABK stock opened at $15.50 on Thursday. The stock has a market cap of $117.32 million, a P/E ratio of 13.03 and a beta of 0.38. South Atlantic Bancshares has a 52 week low of $10.45 and a 52 week high of $20.10. The company’s fifty day simple moving average is $15.67 and its two-hundred day simple moving average is $14.51.

Wall Street Analyst Weigh In

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 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.