South Atlantic Bancshares (OTCMKTS:SABK) Shares Down 0.1% – Here’s What Happened

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) shares dropped 0.1% during mid-day trading on Monday . The stock traded as low as $14.25 and last traded at $14.50. Approximately 2,674 shares traded hands during trading, a decline of 32% from the average daily volume of 3,913 shares. The stock had previously closed at $14.51.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott upgraded South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, December 3rd.

South Atlantic Bancshares Trading Down 0.1 %

The firm has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $14.95. The stock has a market cap of $109.75 million, a price-to-earnings ratio of 12.18 and a beta of 0.37.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. On average, equities analysts predict that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current fiscal year.

South Atlantic Bancshares Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.10 per share. This represents a yield of 0.64%. The ex-dividend date of this dividend was Friday, February 14th. South Atlantic Bancshares’s dividend payout ratio is 7.63%.

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.