South Atlantic Bancshares (SABK) to Release Earnings on Thursday

South Atlantic Bancshares (OTCMKTS:SABK) will likely be announcing its earnings results on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.39 per share for the quarter.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $24.51 million during the quarter, compared to analyst estimates of $12.30 million. On average, analysts expect South Atlantic Bancshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

South Atlantic Bancshares Stock Performance

South Atlantic Bancshares stock opened at $15.71 on Tuesday. The firm has a market capitalization of $118.91 million, a PE ratio of 13.20 and a beta of 0.38. South Atlantic Bancshares has a one year low of $10.45 and a one year high of $20.10. The stock’s 50 day moving average price is $15.75 and its 200 day moving average price is $14.57.

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 note 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.