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

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

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott raised shares of South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, December 3rd.

South Atlantic Bancshares Price Performance

The stock has a market cap of $118.91 million, a PE ratio of 13.20 and a beta of 0.38. The company has a 50 day moving average price of $15.72 and a two-hundred day moving average price of $14.52.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 EPS 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 the consensus estimate of $12.30 million. As a group, equities analysts predict that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current fiscal year.

South Atlantic Bancshares Company Profile

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.