South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) was upgraded by research analysts at Janney Montgomery Scott from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat.com reports. The firm currently has a $17.25 target price on the stock. Janney Montgomery Scott's target price would indicate a potential upside of 20.80% from the stock's previous close.
South Atlantic Bancshares Stock Performance
SABK traded up $0.04 during midday trading on Tuesday, reaching $14.28. 33,821 shares of the company were exchanged, compared to its average volume of 6,415. The stock has a market capitalization of $108.10 million, a P/E ratio of 12.00 and a beta of 0.37. The stock's 50-day simple moving average is $14.07 and its 200 day simple moving average is $13.18. South Atlantic Bancshares has a one year low of $9.86 and a one year high of $15.49.
South Atlantic Bancshares (OTCMKTS:SABK - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $24.51 million for the quarter, compared to the consensus estimate of $12.30 million. On average, research analysts anticipate that South Atlantic Bancshares will post 1.35 earnings per share for the current year.
About South Atlantic Bancshares
(
Get Free Report)
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.
Further Reading
Before you consider South Atlantic Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and South Atlantic Bancshares wasn't on the list.
While South Atlantic Bancshares currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
