South Atlantic Bancshares (OTCMKTS:SABK) Shares Up 1.9% – Still a Buy?

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) rose 1.9% during trading on Tuesday . The company traded as high as $15.45 and last traded at $15.45. Approximately 2,200 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 7,618 shares. The stock had previously closed at $15.16.

Wall Street Analysts Forecast Growth

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

South Atlantic Bancshares Stock Up 1.9 %

The stock has a market capitalization of $116.93 million, a P/E ratio of 12.98 and a beta of 0.39. The business’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $14.16.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $24.51 million for the quarter, compared to the consensus estimate of $12.30 million. Analysts predict that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current year.

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.