South Atlantic Bancshares (OTCMKTS:SABK) Trading Down 4% – Here’s What Happened

Shares of South Atlantic Bancshares, Inc. (OTCMKTS:SABK) were down 4% during mid-day trading on Friday . The company traded as low as $23.37 and last traded at $23.51. Approximately 4,112 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 2,213 shares. The stock had previously closed at $24.49.

Analyst Ratings Changes

Separately, Zacks Research lowered South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, South Atlantic Bancshares has an average rating of “Hold”.

South Atlantic Bancshares Stock Down 4.0%

The firm has a 50-day moving average price of $23.05 and a 200 day moving average price of $21.12. The firm has a market capitalization of $178.44 million, a PE ratio of 10.45 and a beta of 0.10.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The company had revenue of $16.00 million during the quarter, compared to analyst estimates of $16.80 million. Equities research analysts expect that South Atlantic Bancshares, Inc. will post 2.39 earnings per share for the current year.

About South Atlantic Bancshares

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a Florida-based community bank that provides a comprehensive suite of financial services. The company operates through its subsidiary to offer personalized banking solutions designed for individuals, small businesses, and commercial clients. By focusing on relationship-driven banking, South Atlantic Bancshares aims to deliver tailored financial products that address the unique needs of its customers.

The company’s core offerings include a variety of deposit accounts, such as checking, savings and money market products, alongside lending solutions encompassing commercial real estate loans, construction financing, equipment loans and consumer mortgages.