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

South Atlantic Bancshares (OTCMKTS:SABK) issued its quarterly earnings data on Thursday. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02, Zacks reports.

South Atlantic Bancshares Price Performance

Shares of OTCMKTS:SABK remained flat at $15.75 on Thursday. The company’s stock had a trading volume of 4 shares, compared to its average volume of 3,230. The firm’s 50-day moving average price is $15.81 and its 200-day moving average price is $14.63. South Atlantic Bancshares has a 1 year low of $10.45 and a 1 year high of $20.10. The stock has a market cap of $119.21 million, a P/E ratio of 13.24 and a beta of 0.38.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a 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.