Short Interest in South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Expands By 300.0%

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 800 shares, a growth of 300.0% from the February 29th total of 200 shares. Based on an average daily volume of 7,100 shares, the days-to-cover ratio is currently 0.1 days.

South Atlantic Bancshares Stock Performance

SABK traded down $0.09 during trading on Thursday, hitting $10.90. 4,725 shares of the stock were exchanged, compared to its average volume of 4,953. The firm has a 50 day simple moving average of $11.97 and a 200 day simple moving average of $11.19. The firm has a market cap of $82.51 million, a price-to-earnings ratio of 8.26 and a beta of 0.34. South Atlantic Bancshares has a 1 year low of $9.69 and a 1 year high of $13.13.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. The firm had revenue of $11.80 million for the quarter, compared to analysts’ expectations of $11.50 million. As a group, equities analysts anticipate that South Atlantic Bancshares will post 1.33 earnings per share for the current fiscal year.

South Atlantic Bancshares Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a yield of 0.79%. South Atlantic Bancshares’s payout ratio is currently 7.58%.

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.