South Atlantic Bancshares (OTC:SABK) Upgraded by Janney Montgomery Scott to “Buy” Rating

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

South Atlantic Bancshares Price Performance

Shares of OTC:SABK opened at $15.36 on Tuesday. South Atlantic Bancshares has a fifty-two week low of $9.91 and a fifty-two week high of $16.01. The firm has a market cap of $116.28 million, a P/E ratio of 12.53 and a beta of 0.37.

About South Atlantic Bancshares

South Atlantic Bancshares, Inc operates as the bank holding company for South Atlantic Bank which provides banking products and services to individuals and businesses primarily in Horry, Georgetown, and Charleston counties, South Carolina. The company offers checking, money market and savings accounts; certificates of deposits, individual retirement accounts, health savings accounts and residential first mortgages, secured loans, home equity lines of credit, auto and recreational vehicle loans, ready reserve overdraft lines of credit, revolving lines of credit as well as term loans for financing equipment.