Bank of South Carolina Co. (NASDAQ:BKSC) Sees Large Drop in Short Interest

Key Points

• Bank of South Carolina Co. (NASDAQ:BKSC) experienced a significant decline in short interest, dropping 50.0% to 1,600 shares as of July 31st.
• The company announced an increase in its quarterly dividend to $0.21 per share, up from the previous $0.19, resulting in an annualized yield of 5.4%.
• Wall Street analysts have issued a "sell" rating on Bank of South Carolina's shares, indicating cautious sentiment towards the company's stock performance.

Bank of South Carolina Co. (NASDAQ:BKSC - Get Free Report) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,600 shares, adropof50.0% from the July 15th total of 3,200 shares. Based on an average daily trading volume, of 3,100 shares, the short-interest ratio is currently 0.5 days. Approximately0.0% of the shares of the company are short sold. Approximately0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,100 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Bank of South Carolina in a research note on Sunday, May 18th. They issued a "sell" rating for the company.

Bank of South Carolina Trading Down 0.3%

NASDAQ:BKSC traded down $0.04 during mid-day trading on Thursday, hitting $15.30. The company's stock had a trading volume of 1,733 shares, compared to its average volume of 2,177. Bank of South Carolina has a fifty-two week low of $11.25 and a fifty-two week high of $16.00. The company has a market capitalization of $82.93 million, a price-to-earnings ratio of 12.44 and a beta of 0.28. The stock has a fifty day moving average of $14.85 and a 200-day moving average of $14.23.

Bank of South Carolina Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.5%. This is a positive change from Bank of South Carolina's previous quarterly dividend of $0.19. Bank of South Carolina's dividend payout ratio is 63.16%.

Bank of South Carolina Company Profile

Bank of South Carolina Corporation operates as a bank holding company for The Bank of South Carolina that provides a range of financial products and services primarily in Charleston, Berkeley, and Dorchester counties of South Carolina. Its deposits include non-interest-bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit.