South Atlantic Bancshares (OTCMKTS:SABK) Upgraded at Zacks Research

Zacks Research upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

South Atlantic Bancshares Trading Up 0.3%

Shares of OTCMKTS SABK opened at $19.05 on Tuesday. The stock has a market cap of $142.88 million, a PE ratio of 10.08 and a beta of 0.20. South Atlantic Bancshares has a 12-month low of $13.77 and a 12-month high of $20.10. The company has a 50-day moving average of $17.42 and a 200 day moving average of $16.39.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its earnings results on Thursday, October 23rd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.07. The company had revenue of $16.36 million for the quarter, compared to analyst estimates of $15.50 million. On average, sell-side analysts forecast that South Atlantic Bancshares will post 1.35 EPS 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.