Short Interest in Bank of South Carolina Co. (NASDAQ:BKSC) Expands By 88.9%

Key Points

• Bank of South Carolina Co. experienced an 88.9% increase in short interest during August, with a total of 3,400 shares shorted by August 31st.
• The company announced a quarterly dividend increase to $0.21 per share, up from $0.19, translating to an annualized yield of 5.4%.
• Wall Street Zen has assigned a "sell" rating on Bank of South Carolina’s stock, indicating a bearish outlook from analysts.

Bank of South Carolina Co. (NASDAQ:BKSC - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 3,400 shares, an increase of 88.9% from the August 15th total of 1,800 shares. Based on an average trading volume of 1,600 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.1% of the company's shares are short sold. Approximately 0.1% of the company's shares are short sold. Based on an average trading volume of 1,600 shares, the days-to-cover ratio is currently 2.1 days.

Bank of South Carolina Stock Performance

Shares of BKSC remained flat at $15.55 during midday trading on Thursday. 3,404 shares of the stock traded hands, compared to its average volume of 2,066. Bank of South Carolina has a 1-year low of $11.48 and a 1-year high of $16.00. The stock has a market capitalization of $84.28 million, a price-to-earnings ratio of 12.64 and a beta of 0.30. The company's 50-day moving average is $15.31 and its 200 day moving average is $14.45.

Bank of South Carolina Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 5.4%. This is an increase from Bank of South Carolina's previous quarterly dividend of $0.19. Bank of South Carolina's dividend payout ratio (DPR) is currently 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.