South Atlantic Bancshares (OTCMKTS:SABK) Posts Earnings Results, Beats Estimates By $0.02 EPS

South Atlantic Bancshares (OTCMKTS:SABK) released its earnings results on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02, Zacks reports.

South Atlantic Bancshares Stock Up 0.6 %

OTCMKTS:SABK opened at $15.98 on Friday. The business’s 50-day simple moving average is $15.78 and its two-hundred day simple moving average is $14.66. South Atlantic Bancshares has a 52 week low of $10.45 and a 52 week high of $20.10. The stock has a market cap of $120.95 million, a PE ratio of 13.43 and a beta of 0.38.

Analyst Ratings Changes

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

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.