Bank of South Carolina (NASDAQ:BKSC) Posts Quarterly Earnings Results

Bank of South Carolina (NASDAQ:BKSC) issued its quarterly earnings results on Tuesday. The bank reported $0.25 earnings per share for the quarter, reports. Bank of South Carolina had a net margin of 21.07% and a return on equity of 12.60%. The company had revenue of $5.16 million for the quarter.

Bank of South Carolina Price Performance

Shares of NASDAQ BKSC opened at $12.02 on Thursday. The stock has a market capitalization of $65.67 million, a PE ratio of 12.27 and a beta of 0.57. Bank of South Carolina has a one year low of $9.52 and a one year high of $15.86. The business’s fifty day moving average price is $12.47 and its 200-day moving average price is $12.48.

Bank of South Carolina Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be paid a $0.17 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.68 annualized dividend and a dividend yield of 5.66%. Bank of South Carolina’s payout ratio is presently 69.39%.

Hedge Funds Weigh In On Bank of South Carolina

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BKSC. Advisor Group Holdings Inc. lifted its stake in shares of Bank of South Carolina by 37.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,359 shares of the bank’s stock valued at $119,000 after buying an additional 1,744 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Bank of South Carolina in the fourth quarter worth $150,000. BlackRock Inc. boosted its holdings in shares of Bank of South Carolina by 11.3% in the second quarter. BlackRock Inc. now owns 11,304 shares of the bank’s stock worth $158,000 after acquiring an additional 1,149 shares during the period. Private Advisor Group LLC purchased a new position in shares of Bank of South Carolina in the first quarter valued at $173,000. Finally, State Street Corp bought a new stake in shares of Bank of South Carolina during the 2nd quarter valued at $197,000. Institutional investors own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Bank of South Carolina in a research note on Friday, April 5th. They issued a “sell” rating on the stock.

About Bank of South Carolina

Bank of South Carolina Corporation operates as a bank holding company for The Bank of South Carolina that provides a range of financial products and services primarily in Charleston, Berkeley, and Dorchester counties of South Carolina. Its deposits include non-interest-bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit.