South Atlantic Bancshares (OTCMKTS:SABK) Trading 1.9% Higher – Here’s What Happened

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) shares rose 1.9% during trading on Tuesday . The stock traded as high as $15.45 and last traded at $15.45. Approximately 2,200 shares changed hands during 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 Performance

The company has a fifty day moving average price of $15.23 and a 200-day moving average price of $14.12. The firm has a market capitalization of $116.93 million, a PE ratio of 12.98 and a beta of 0.39.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $24.51 million during the quarter, compared to analysts’ expectations of $12.30 million. On average, equities 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.