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

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

South Atlantic Bancshares Stock Up 0.6%

SABK stock traded up $0.12 during midday trading 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 market cap of $148.29 million, a price-to-earnings ratio of 10.44 and a beta of 0.12. The stock’s 50-day moving average price is $19.29 and its 200 day moving average price is $17.97. South Atlantic Bancshares has a 1 year low of $14.00 and a 1 year high of $21.93.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus 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.