South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Short Interest Down 30.0% in November

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 700 shares, a decline of 30.0% from the October 31st total of 1,000 shares. Based on an average daily volume of 44,600 shares, the short-interest ratio is currently 0.0 days.

South Atlantic Bancshares Stock Performance

OTCMKTS SABK traded down $0.10 on Friday, reaching $15.40. 4,786 shares of the company’s stock traded hands, compared to its average volume of 7,747. South Atlantic Bancshares has a fifty-two week low of $9.94 and a fifty-two week high of $20.10. The stock has a 50 day moving average price of $14.66 and a 200-day moving average price of $13.66. The firm has a market cap of $116.55 million, a price-to-earnings ratio of 12.94 and a beta of 0.37.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $24.51 million during the quarter, compared to analysts’ expectations of $12.30 million. As a group, equities research analysts anticipate that South Atlantic Bancshares will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded shares of South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $17.25 target price for the company in a research report on Tuesday, November 12th.

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.