South Atlantic Bancshares (OTCMKTS:SABK) Releases Quarterly Earnings Results, Meets Expectations

South Atlantic Bancshares (OTCMKTS:SABK) released its quarterly earnings results on Tuesday. The company reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26, reports. The company had revenue of $11.30 million during the quarter, compared to analyst estimates of $11.70 million.

South Atlantic Bancshares Stock Down 1.0 %

Shares of SABK traded down $0.11 during trading hours on Thursday, reaching $10.60. The company’s stock had a trading volume of 2,117 shares, compared to its average volume of 3,977. The company has a 50 day moving average of $11.30 and a two-hundred day moving average of $11.27. The firm has a market cap of $80.56 million, a price-to-earnings ratio of 9.15 and a beta of 0.33. South Atlantic Bancshares has a 1-year low of $9.69 and a 1-year high of $12.95.

South Atlantic Bancshares Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $0.10 dividend. This represents a yield of 0.79%. The ex-dividend date was Tuesday, February 13th. South Atlantic Bancshares’s dividend payout ratio is currently 8.55%.

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.