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

South Atlantic Bancshares (OTCMKTS:SABK) was upgraded by research analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $17.25 price objective on the stock. Janney Montgomery Scott’s target price would suggest a potential upside of 12.30% from the company’s current price.

South Atlantic Bancshares Trading Up 3.0 %

OTCMKTS:SABK opened at $15.36 on Tuesday. South Atlantic Bancshares has a 1-year low of $9.91 and a 1-year high of $16.01. The business’s 50-day moving average price is $14.09 and its two-hundred day moving average price is $13.21. The firm has a market capitalization of $116.24 million, a price-to-earnings ratio of 12.91 and a beta of 0.37.

South Atlantic Bancshares (OTCMKTS:SABK) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $24.51 million during the quarter, compared to the consensus estimate of $12.30 million. Sell-side analysts predict that South Atlantic Bancshares will post 1.35 earnings per share for the current 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.