South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Sees Large Decrease in Short Interest

South Atlantic Bancshares, Inc. (OTCMKTS:SABK - Get Free Report) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 300 shares, a decline of 40.0% from the September 30th total of 500 shares. Based on an average trading volume of 4,000 shares, the days-to-cover ratio is presently 0.1 days.

South Atlantic Bancshares Stock Performance

SABK stock remained flat at $14.27 on Friday. South Atlantic Bancshares has a fifty-two week low of $9.86 and a fifty-two week high of $15.49. The firm has a 50 day moving average of $14.05 and a 200 day moving average of $12.89. The company has a market cap of $108.00 million, a price-to-earnings ratio of 12.20 and a beta of 0.37.

South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) last announced its 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 company had revenue of $24.51 million for the quarter, compared to the consensus estimate of $12.30 million. As a group, sell-side analysts predict that South Atlantic Bancshares will post 1.28 EPS 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.