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 published on Thursday,Zacks.com reports.

South Atlantic Bancshares Stock Performance

OTCMKTS:SABK opened at $20.00 on Thursday. South Atlantic Bancshares has a fifty-two week low of $14.00 and a fifty-two week high of $21.93. The company has a 50 day simple moving average of $19.37 and a two-hundred day simple moving average of $18.17. The company has a market capitalization of $150.60 million, a PE ratio of 9.52 and a beta of 0.12.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $16.46 million during the quarter, compared to analyst estimates of $14.17 million. Research analysts predict that South Atlantic Bancshares will post 1.35 EPS for the current year.

About South Atlantic Bancshares

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a Florida-based community bank that provides a comprehensive suite of financial services. The company operates through its subsidiary to offer personalized banking solutions designed for individuals, small businesses, and commercial clients. By focusing on relationship-driven banking, South Atlantic Bancshares aims to deliver tailored financial products that address the unique needs of its customers.

The company’s core offerings include a variety of deposit accounts, such as checking, savings and money market products, alongside lending solutions encompassing commercial real estate loans, construction financing, equipment loans and consumer mortgages.