South Atlantic Bancshares (OTCMKTS:SABK) Issues Earnings Results

South Atlantic Bancshares (OTCMKTS:SABK) issued its quarterly earnings results on Thursday. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06, Zacks reports. The firm had revenue of $16.46 million for the quarter, compared to the consensus estimate of $14.17 million.

South Atlantic Bancshares Stock Up 0.6%

SABK opened at $19.72 on Friday. The firm has a market cap of $148.53 million, a PE ratio of 10.44 and a beta of 0.12. The business has a fifty day simple moving average of $19.29 and a 200-day simple moving average of $17.98. South Atlantic Bancshares has a fifty-two week low of $14.00 and a fifty-two week high of $21.93.

Wall Street Analyst Weigh In

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