South Atlantic Bancshares (OTCMKTS:SABK) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of South Atlantic Bancshares (OTCMKTS:SABK) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

South Atlantic Bancshares Price Performance

Shares of SABK opened at $20.00 on Thursday. The company has a market cap of $150.62 million, a PE ratio of 9.52 and a beta of 0.12. The firm has a 50-day moving average of $19.37 and a 200-day moving average of $18.15. South Atlantic Bancshares has a one year low of $14.00 and a one year high of $21.93.

South Atlantic Bancshares (OTCMKTS:SABK) last issued its earnings results on Thursday, January 22nd. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. The firm had revenue of $16.46 million during the quarter, compared to analyst estimates of $14.17 million. Analysts expect that South Atlantic Bancshares will post 1.35 earnings per share for the current year.

South Atlantic Bancshares Company Profile

South Atlantic Bancshares, Inc is the bank holding company for South Atlantic Bank, a Florida-based community bank that provides a comprehensive suite of financial services. The company operates through its subsidiary to offer personalized banking solutions designed for individuals, small businesses, and commercial clients. By focusing on relationship-driven banking, South Atlantic Bancshares aims to deliver tailored financial products that address the unique needs of its customers.

The company’s core offerings include a variety of deposit accounts, such as checking, savings and money market products, alongside lending solutions encompassing commercial real estate loans, construction financing, equipment loans and consumer mortgages.