South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Sees Significant Increase in Short Interest

Key Points

• Short interest in South Atlantic Bancshares, Inc. (OTCMKTS:SABK) increased by 75.0% in July, rising from 400 to 700 shares.
• The company reported an earnings per share (EPS) of $0.48 for the last quarter, exceeding expectations of $0.45, with revenue reaching $15.13 million.
• As of now, South Atlantic Bancshares has a market capitalization of $123.75 million and its stock price recently traded around $16.50.

South Atlantic Bancshares, Inc. (OTCMKTS:SABK - Get Free Report) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 700 shares, anincreaseof75.0% from the July 15th total of 400 shares. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 0.1 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 trading volume of 9,500 shares, the days-to-cover ratio is presently 0.1 days.

South Atlantic Bancshares Stock Up 0.3%

Shares of SABK stock traded up $0.05 on Friday, hitting $17.48. The company had a trading volume of 5,160 shares, compared to its average volume of 3,328. The firm has a market cap of $131.13 million, a P/E ratio of 10.53 and a beta of 0.18. The company has a 50-day moving average price of $16.24 and a 200-day moving average price of $15.56. South Atlantic Bancshares has a twelve month low of $13.30 and a twelve month high of $20.10.

South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $15.13 million during the quarter, compared to analyst estimates of $13.92 million. Equities research analysts expect that South Atlantic Bancshares will post 1.35 EPS for the current year.

South Atlantic Bancshares Company Profile

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.