South Atlantic Bancshares (OTCMKTS:SABK) Stock Price Up 1.1% - Here's Why

Key Points

• South Atlantic Bancshares (OTCMKTS:SABK) shares increased by 1.1% during mid-day trading, reaching a high of $17.13 before closing at $16.99.
• The company reported $0.48 earnings per share (EPS) for the last quarter, surpassing the estimate of $0.45 and achieving revenue of $15.13 million, which also exceeded projections.
• South Atlantic Bancshares has a market capitalization of $127.43 million and a price-to-earnings ratio of 10.24.

South Atlantic Bancshares, Inc. (OTCMKTS:SABK - Get Free Report) rose 1.1% during mid-day trading on Tuesday . The stock traded as high as $17.13 and last traded at $16.99. Approximately 3,200 shares were traded during trading, an increase of 10% from the average daily volume of 2,904 shares. The stock had previously closed at $16.81.

South Atlantic Bancshares Price Performance

The business's 50-day simple moving average is $17.20 and its two-hundred day simple moving average is $16.18. The stock has a market cap of $127.43 million, a price-to-earnings ratio of 10.24 and a beta of 0.20.

South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) last released its quarterly earnings results 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 business had revenue of $15.13 million for the quarter, compared to the consensus estimate of $13.92 million. Equities research analysts forecast that South Atlantic Bancshares, Inc. will post 1.35 earnings per share for the current year.

About South Atlantic Bancshares

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.

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