South Atlantic Bancshares (OTCMKTS:SABK) Upgraded to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat reports. The firm currently has $17.25 price target on the stock.

South Atlantic Bancshares Stock Performance

Shares of SABK stock opened at $14.91 on Tuesday. The company has a market capitalization of $112.87 million, a price-to-earnings ratio of 12.00 and a beta of 0.37. South Atlantic Bancshares has a 52-week low of $9.86 and a 52-week high of $15.49. The company has a 50-day simple moving average of $14.07 and a two-hundred day simple moving average of $13.18.

South Atlantic Bancshares (OTCMKTS:SABK) last released its earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $24.51 million during the quarter, compared to the consensus estimate of $12.30 million. On average, sell-side analysts forecast that South Atlantic Bancshares will post 1.35 EPS for the current fiscal 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.