South Atlantic Bancshares (OTCMKTS:SABK) Stock Jumps 0.8% – Time to Buy?

by · The Markets Daily

South Atlantic Bancshares, Inc. (OTCMKTS:SABK – Get Free Report)’s share price were up 0.8% during mid-day trading on Thursday. The company traded as high as $25.66 and last traded at $25.61. Approximately 2,318 shares were traded during mid-day trading, an increase of 234% from the average daily volume of 694 shares. The stock had previously closed at $25.40.

South Atlantic Bancshares Stock Performance

The stock’s 50-day moving average price is $25.08 and its 200-day moving average price is $24.43. The company has a market capitalization of $195.66 million, a price-to-earnings ratio of 10.76 and a beta of 0.15.

South Atlantic Bancshares (OTCMKTS:SABK – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $16.98 million during the quarter, compared to analyst estimates of $16.60 million. Analysts anticipate that South Atlantic Bancshares, Inc. will post 2.43 earnings per share for the current year.

South Atlantic Bancshares Company Profile

(Get Free Report)

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a community banking institution serving businesses, individuals and organizations in South Carolina. Through its banking subsidiary, the company provides traditional financial services, including checking and savings accounts, certificates of deposit, commercial and consumer lending, residential mortgage loans, and cash-management services.

South Atlantic Bank focuses on relationship-based banking for small and middle-market businesses, professionals, real estate borrowers and individual customers.

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