South Atlantic Bancshares (OTCMKTS:SABK) Releases Earnings Results, Beats Expectations By $0.06 EPS

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

South Atlantic Bancshares Stock Performance

South Atlantic Bancshares stock traded up $0.12 during midday trading on Thursday, reaching $19.72. 250 shares of the stock were exchanged, compared to its average volume of 1,795. The company’s fifty day moving average is $19.29 and its 200-day moving average is $17.97. The firm has a market cap of $148.29 million, a PE ratio of 10.44 and a beta of 0.12. South Atlantic Bancshares has a 52 week low of $14.00 and a 52 week high of $21.93.

Analysts Set New Price Targets

Separately, Zacks Research cut South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.