South Atlantic Bancshares (OTCMKTS:SABK) Upgraded by Janney Montgomery Scott to Buy Rating

South Atlantic Bancshares (OTCMKTS:SABK) was upgraded by equities research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $19.00 price target on the stock. Janney Montgomery Scott’s price objective indicates a potential upside of 23.31% from the stock’s previous close.

South Atlantic Bancshares Stock Performance

Shares of OTCMKTS SABK opened at $15.41 on Tuesday. South Atlantic Bancshares has a one year low of $10.07 and a one year high of $20.10. The firm has a market cap of $116.61 million, a PE ratio of 12.95 and a beta of 0.37. The firm has a fifty day moving average of $14.66 and a 200 day moving average of $13.69.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $24.51 million for the quarter, compared to analyst estimates of $12.30 million. On average, equities analysts predict that South Atlantic Bancshares will post 1.35 EPS for the current fiscal 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.