South Atlantic Bancshares (OTCMKTS:SABK) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a neutral rating to a buy rating in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have $19.00 target price on the stock.

South Atlantic Bancshares Stock Down 0.3 %

Shares of SABK stock opened at $15.75 on Tuesday. The stock has a fifty day moving average of $14.76 and a 200 day moving average of $13.76. The firm has a market capitalization of $119.20 million, a price-to-earnings ratio of 13.28 and a beta of 0.39. South Atlantic Bancshares has a 52 week low of $10.29 and a 52 week high of $20.10.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its earnings results 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 company had revenue of $24.51 million for the quarter, compared to the consensus estimate of $12.30 million. Equities research analysts anticipate that South Atlantic Bancshares 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.