Short Interest in South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Drops By 42.9%

Key Points

• Short interest in South Atlantic Bancshares declined by 42.9% in August, falling to 400 shares from 700 shares in July.
• The company reported $0.48 earnings per share for the last quarter, exceeding analysts' expectations of $0.45.
• SABK stock currently has a market capitalization of $129.38 million and a P/E ratio of 10.39.

South Atlantic Bancshares, Inc. (OTCMKTS:SABK - Get Free Report) was the target of a significant drop in short interest in August. As of August 15th, there was short interest totaling 400 shares, a drop of 42.9% from the July 31st total of 700 shares. Based on an average daily volume of 4,500 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 4,500 shares, the short-interest ratio is presently 0.1 days.

South Atlantic Bancshares Price Performance

SABK stock traded up $0.05 during trading hours on Wednesday, reaching $17.30. The stock had a trading volume of 10,000 shares, compared to its average volume of 3,223. The stock has a 50-day simple moving average of $16.58 and a 200 day simple moving average of $15.73. The stock has a market capitalization of $129.78 million, a PE ratio of 10.42 and a beta of 0.21. South Atlantic Bancshares has a fifty-two week low of $13.75 and a fifty-two week high of $20.10.

South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $15.13 million for the quarter, compared to analyst estimates of $13.92 million. On average, sell-side analysts forecast that South Atlantic Bancshares will post 1.35 EPS for the current fiscal 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.