South Atlantic Bancshares (OTCMKTS:SABK) Trading 0.4% Higher – Here’s What Happened

South Atlantic Bancshares, Inc. (OTCMKTS:SABK)’s share price traded up 0.4% on Tuesday . The stock traded as high as $25.99 and last traded at $25.70. 4,623 shares traded hands during trading, an increase of 119% from the average session volume of 2,106 shares. The stock had previously closed at $25.60.

Analysts Set New Price Targets

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

South Atlantic Bancshares Stock Performance

The company has a market cap of $188.86 million, a PE ratio of 11.04 and a beta of 0.12. The business’s 50-day moving average is $23.73 and its 200 day moving average is $21.80.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $16.80 million. Equities research analysts anticipate that South Atlantic Bancshares, Inc. will post 2.39 EPS for the current fiscal year.

South Atlantic Bancshares Company Profile

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.