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

Janney Montgomery Scott upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a neutral rating to a buy rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Janney Montgomery Scott currently has $19.00 target price on the stock.

South Atlantic Bancshares Trading Up 2.2 %

South Atlantic Bancshares stock opened at $15.75 on Tuesday. The company has a market capitalization of $119.20 million, a PE ratio of 13.24 and a beta of 0.37. The stock has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $13.71. South Atlantic Bancshares has a 12 month low of $10.07 and a 12 month high of $20.10.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $24.51 million during the quarter, compared to analyst estimates of $12.30 million. As a group, 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.