South Atlantic Bancshares (OTCMKTS:SABK) Shares Down 3.3% – What’s Next?

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) dropped 3.3% on Monday . The company traded as low as $14.31 and last traded at $14.50. Approximately 1,641 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,523 shares. The stock had previously closed at $14.99.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded South Atlantic Bancshares from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, December 3rd.

South Atlantic Bancshares Stock Performance

The company has a market capitalization of $114.29 million, a price-to-earnings ratio of 12.69 and a beta of 0.38. The firm has a fifty day moving average price of $15.21 and a 200-day moving average price of $15.03.

South Atlantic Bancshares (OTCMKTS:SABK) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. On average, sell-side analysts forecast that South Atlantic Bancshares, Inc. will post 1.35 EPS for the current fiscal year.

South Atlantic Bancshares Announces Dividend

The company also recently declared an annual dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a dividend yield of 0.64%. South Atlantic Bancshares’s dividend payout ratio is 7.63%.

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.