South Atlantic Bancshares (OTCMKTS:SABK) Raised to “Buy” at Janney Montgomery Scott

South Atlantic Bancshares (OTCMKTS:SABK) was upgraded by equities researchers at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Tuesday, Marketbeat Ratings reports. The firm presently has a $17.25 target price on the stock. Janney Montgomery Scott’s target price would indicate a potential upside of 12.30% from the company’s previous close.

South Atlantic Bancshares Trading Up 3.0 %

SABK opened at $15.36 on Tuesday. The stock has a market cap of $116.24 million, a PE ratio of 12.91 and a beta of 0.37. South Atlantic Bancshares has a 1 year low of $9.91 and a 1 year high of $16.01. The stock’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $13.21.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $24.51 million during the quarter, compared to the consensus estimate of $12.30 million. Equities analysts forecast that South Atlantic Bancshares 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.