South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Short Interest Down 62.5% in May

South Atlantic Bancshares, Inc. (OTCMKTS:SABK – Get Rating) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 300 shares, a decline of 62.5% from the April 30th total of 800 shares. Based on an average daily volume of 3,700 shares, the short-interest ratio is currently 0.1 days.

South Atlantic Bancshares Price Performance

OTCMKTS SABK traded down $0.06 during trading hours on Friday, hitting $11.39. 2,729 shares of the company’s stock traded hands, compared to its average volume of 3,158. South Atlantic Bancshares has a 52-week low of $11.00 and a 52-week high of $15.87. The company has a market capitalization of $86.11 million, a PE ratio of 6.67 and a beta of 0.48. The firm’s 50-day moving average is $12.50 and its 200-day moving average is $13.31.

South Atlantic Bancshares (OTCMKTS:SABK – Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $12.28 million for the quarter, compared to the consensus estimate of $13.40 million. Equities research analysts predict that South Atlantic Bancshares will post 1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott cut shares of South Atlantic Bancshares from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $14.00 in a research note on Monday, May 1st.

About South Atlantic Bancshares

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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.