South Atlantic Bancshares (OTCMKTS:SABK) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

South Atlantic Bancshares (OTCMKTS:SABK) issued its earnings results on Thursday. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06, Zacks reports.

South Atlantic Bancshares Price Performance

OTCMKTS:SABK traded up $0.12 during trading hours on Thursday, hitting $19.72. The company’s stock had a trading volume of 250 shares, compared to its average volume of 1,795. The stock has a fifty day simple moving average of $19.29 and a 200-day simple moving average of $17.97. The company has a market capitalization of $148.29 million, a P/E ratio of 10.44 and a beta of 0.12. South Atlantic Bancshares has a twelve month low of $14.00 and a twelve month high of $21.93.

Analysts Set New Price Targets

Separately, Zacks Research downgraded South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

South Atlantic Bancshares Company Profile

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a Florida-based community bank that provides a comprehensive suite of financial services. The company operates through its subsidiary to offer personalized banking solutions designed for individuals, small businesses, and commercial clients. By focusing on relationship-driven banking, South Atlantic Bancshares aims to deliver tailored financial products that address the unique needs of its customers.

The company’s core offerings include a variety of deposit accounts, such as checking, savings and money market products, alongside lending solutions encompassing commercial real estate loans, construction financing, equipment loans and consumer mortgages.