South Atlantic Bancshares (OTCMKTS:SABK) Shares Climb 0.8% – Time to Buy?

South Atlantic Bancshares, Inc. (OTCMKTS:SABK)’s stock price rose 0.8% during mid-day trading on Thursday. The stock traded as high as $25.66 and last traded at $25.61. Approximately 2,318 shares changed hands during trading, an increase of 234% from the average session volume of 694 shares. The stock had previously closed at $25.40.

South Atlantic Bancshares Price Performance

The stock has a market capitalization of $194.64 million, a price-to-earnings ratio of 10.76 and a beta of 0.15. The stock has a 50 day moving average price of $25.09 and a 200 day moving average price of $24.44.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its earnings results on Thursday, July 23rd. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $16.98 million during the quarter, compared to the consensus estimate of $16.60 million. Sell-side analysts forecast that South Atlantic Bancshares, Inc. will post 2.43 earnings per share for the current fiscal year.

About South Atlantic Bancshares

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a community banking institution serving businesses, individuals and organizations in South Carolina. Through its banking subsidiary, the company provides traditional financial services, including checking and savings accounts, certificates of deposit, commercial and consumer lending, residential mortgage loans, and cash-management services.

South Atlantic Bank focuses on relationship-based banking for small and middle-market businesses, professionals, real estate borrowers and individual customers.