South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Short Interest Update

South Atlantic Bancshares, Inc. (OTCMKTS:SABKGet Rating) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 100 shares, a decline of 80.0% from the March 15th total of 500 shares. Based on an average daily trading volume, of 3,700 shares, the short-interest ratio is currently 0.0 days.

OTCMKTS SABK traded up $0.05 on Wednesday, hitting $16.00. 2,088 shares of the stock were exchanged, compared to its average volume of 2,789. South Atlantic Bancshares has a 52-week low of $12.00 and a 52-week high of $16.25. The company has a market capitalization of $121.47 million, a price-to-earnings ratio of 11.35 and a beta of 0.74. The company’s 50-day moving average price is $16.00 and its two-hundred day moving average price is $15.48.

South Atlantic Bancshares (OTCMKTS:SABKGet Rating) last posted its quarterly earnings data on Wednesday, January 19th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $11.12 million for the quarter, compared to analysts’ expectations of $10.90 million. Equities analysts forecast that South Atlantic Bancshares will post 1.01 EPS for the current fiscal year.

Several equities analysts have recently issued reports on SABK shares. Stephens upgraded South Atlantic Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $18.50 in a research report on Monday, January 24th. Zacks Investment Research cut South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 6th.

About South Atlantic Bancshares (Get Rating)

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 operates eleven offices in Myrtle Beach, Carolina Forest, North Myrtle Beach, Murrells Inlet, Pawleys Island, Georgetown, Mount Pleasant, Charleston, Blufton, and Hilton Head Island, South Carolina.

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