South Atlantic Bancshares (OTCMKTS:SABK) Releases Earnings Results, Beats Estimates By $0.05 EPS

South Atlantic Bancshares (OTCMKTS:SABK – Get Rating) posted its quarterly earnings data on Tuesday. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05, MarketWatch Earnings reports.

SABK opened at $16.25 on Wednesday. The company has a fifty day moving average price of $16.00 and a two-hundred day moving average price of $15.54. South Atlantic Bancshares has a 1-year low of $12.37 and a 1-year high of $16.50. The company has a market cap of $123.37 million, a P/E ratio of 11.52 and a beta of 0.74.

A number of analysts have weighed in on the company. Stephens upgraded South Atlantic Bancshares from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $18.50 in a report on Monday, January 24th. Zacks Investment Research cut South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 6th.

South Atlantic Bancshares Company Profile (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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