South Atlantic Bancshares (OTCMKTS:SABK) Trading Up 0.3% – Here’s Why

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) shares were up 0.3% on Friday . The company traded as high as $19.10 and last traded at $19.05. Approximately 749 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 7,663 shares. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of South Atlantic Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, South Atlantic Bancshares presently has a consensus rating of “Strong Buy” and a consensus price target of $19.00.

South Atlantic Bancshares Price Performance

The firm’s 50 day moving average price is $18.31 and its 200-day moving average price is $16.96. The stock has a market cap of $143.26 million, a P/E ratio of 10.08 and a beta of 0.25.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm had revenue of $16.36 million during the quarter, compared to analysts’ expectations of $15.50 million. On average, analysts expect that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current year.

About South Atlantic Bancshares

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.