Janney Montgomery Scott Upgrades South Atlantic Bancshares (OTCMKTS:SABK) to Buy

Janney Montgomery Scott upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat Ratings reports. Janney Montgomery Scott currently has $17.25 target price on the stock.

South Atlantic Bancshares Trading Up 12.5 %

Shares of OTCMKTS:SABK opened at $17.44 on Tuesday. South Atlantic Bancshares has a twelve month low of $9.91 and a twelve month high of $18.00. The company has a market cap of $132.02 million, a PE ratio of 14.66 and a beta of 0.37. The company’s 50 day moving average is $14.22 and its 200 day moving average is $13.29.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $24.51 million during the quarter, compared to analyst estimates of $12.30 million. Equities research analysts predict that South Atlantic Bancshares will post 1.35 earnings per share 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.