South Atlantic Bancshares (OTCMKTS:SABK) Shares Down 3.3% – What’s Next?

Shares of South Atlantic Bancshares, Inc. (OTCMKTS:SABK) were down 3.3% during mid-day trading on Monday . The stock traded as low as $14.31 and last traded at $14.50. Approximately 1,641 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,523 shares. The stock had previously closed at $14.99.

Wall Street Analyst Weigh In

Separately, Janney Montgomery Scott upgraded shares of South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, December 3rd.

South Atlantic Bancshares Trading Down 0.3 %

The firm’s 50 day moving average price is $15.21 and its two-hundred day moving average price is $15.03. The company has a market capitalization of $114.29 million, a price-to-earnings ratio of 12.69 and a beta of 0.38.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. As a group, equities research analysts predict that South Atlantic Bancshares, Inc. will post 1.35 EPS for the current year.

South Atlantic Bancshares Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.10 dividend. This represents a dividend yield of 0.64%. The ex-dividend date of this dividend was Friday, February 14th. South Atlantic Bancshares’s payout ratio is presently 7.63%.

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.