South Atlantic Bancshares (OTCMKTS:SABK) Shares Down 1.6% – Here’s Why

South Atlantic Bancshares, Inc. (OTCMKTS:SABK)’s stock price fell 1.6% on Thursday . The stock traded as low as $24.41 and last traded at $24.41. 1,636 shares traded hands during mid-day trading, an increase of 195% from the average session volume of 554 shares. The stock had previously closed at $24.80.

South Atlantic Bancshares Price Performance

The business’s 50 day moving average price is $25.18 and its 200-day moving average price is $24.14. The firm has a market capitalization of $190.92 million, a price-to-earnings ratio of 10.50 and a beta of 0.15.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $16.98 million for the quarter, compared to analysts’ expectations of $16.60 million. As a group, analysts expect that South Atlantic Bancshares, Inc. will post 2.43 earnings per share for the current fiscal year.

About South Atlantic Bancshares

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.