South Atlantic Bancshares (OTCMKTS:SABK) Trading 0.3% Higher – Should You Buy?

South Atlantic Bancshares, Inc. (OTCMKTS:SABK)’s share price were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $15.85 and last traded at $15.50. Approximately 15,700 shares changed hands during trading, an increase of 307% from the average daily volume of 3,862 shares. The stock had previously closed at $15.45.

Wall Street Analysts Forecast Growth

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

South Atlantic Bancshares Price Performance

The stock’s 50 day moving average is $15.72 and its 200-day moving average is $14.52. The company has a market capitalization of $118.91 million, a P/E ratio of 13.20 and a beta of 0.38.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $24.51 million for the quarter, compared to analysts’ expectations of $12.30 million. On average, equities research analysts anticipate that South Atlantic Bancshares, Inc. will post 1.35 EPS for the current year.

About South Atlantic Bancshares

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.