South Atlantic Bancshares (SABK) Expected to Announce Quarterly Earnings on Thursday

South Atlantic Bancshares (OTCMKTS:SABK) is anticipated to announce its resultson Thursday, April 23rd. Analysts expect the company to announce earnings of $0.58 per share and revenue of $16.80 million for the quarter.

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 the consensus estimate of $0.56 by $0.06. The company had revenue of $16.46 million for the quarter, compared to analysts’ expectations of $14.17 million. On average, analysts expect South Atlantic Bancshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

South Atlantic Bancshares Stock Up 0.1%

Shares of SABK stock opened at $22.67 on Thursday. The company has a 50 day moving average of $22.57 and a 200-day moving average of $20.22. South Atlantic Bancshares has a 12-month low of $14.56 and a 12-month high of $23.95. The firm has a market cap of $172.07 million, a P/E ratio of 10.80 and a beta of 0.08.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.