South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Sees Significant Decline in Short Interest

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 300 shares, a decrease of 57.1% from the May 31st total of 700 shares. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is currently 0.0 days.

South Atlantic Bancshares Price Performance

Shares of SABK traded up $0.17 during mid-day trading on Friday, reaching $12.40. The company’s stock had a trading volume of 2,000 shares, compared to its average volume of 4,726. South Atlantic Bancshares has a 12-month low of $9.69 and a 12-month high of $12.95. The stock has a market cap of $93.84 million, a PE ratio of 10.60 and a beta of 0.36. The company’s 50 day moving average is $11.62 and its 200 day moving average is $11.75.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its earnings results on Tuesday, April 23rd. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. The firm had revenue of $11.30 million during the quarter, compared to analyst estimates of $11.70 million. As a group, sell-side analysts anticipate that South Atlantic Bancshares will post 1.23 EPS for the current fiscal year.

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.