Zacks Research Upgrades South Atlantic Bancshares (OTCMKTS:SABK) to Strong-Buy

South Atlantic Bancshares (OTCMKTS:SABK) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

South Atlantic Bancshares Stock Performance

SABK opened at $20.00 on Thursday. South Atlantic Bancshares has a 1-year low of $14.00 and a 1-year high of $21.93. The firm has a 50-day moving average price of $19.37 and a two-hundred day moving average price of $18.15. The stock has a market capitalization of $150.62 million, a PE ratio of 9.52 and a beta of 0.12.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its 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 business had revenue of $16.46 million for the quarter, compared to the consensus estimate of $14.17 million. On average, 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.