South Atlantic Bancshares (OTCMKTS:SABK) Posts Earnings Results

South Atlantic Bancshares (OTCMKTS:SABK) posted its earnings results on Thursday. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04, Zacks reports. The firm had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $16.80 million.

South Atlantic Bancshares Price Performance

Shares of SABK opened at $22.67 on Friday. The business’s 50 day moving average price is $22.70 and its 200-day moving average price is $20.42. South Atlantic Bancshares has a 52 week low of $14.56 and a 52 week high of $23.95. The stock has a market cap of $172.07 million, a P/E ratio of 10.80 and a beta of 0.08.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded South Atlantic Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, South Atlantic Bancshares has a consensus rating of “Hold”.

South Atlantic Bancshares Company Profile

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a Florida-based community bank that provides a comprehensive suite of financial services. The company operates through its subsidiary to offer personalized banking solutions designed for individuals, small businesses, and commercial clients. By focusing on relationship-driven banking, South Atlantic Bancshares aims to deliver tailored financial products that address the unique needs of its customers.

The company’s core offerings include a variety of deposit accounts, such as checking, savings and money market products, alongside lending solutions encompassing commercial real estate loans, construction financing, equipment loans and consumer mortgages.