Short Interest in South Atlantic Bancshares, Inc. (OTCMKTS:SABK) Expands By 229.1%

South Atlantic Bancshares, Inc. (OTCMKTS:SABK) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 2,985 shares, an increase of 229.1% from the May 31st total of 907 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 5,877 shares, the days-to-cover ratio is presently 0.5 days.

South Atlantic Bancshares Stock Performance

South Atlantic Bancshares stock opened at $25.50 on Tuesday. South Atlantic Bancshares has a 52 week low of $15.70 and a 52 week high of $26.39. The stock has a market capitalization of $193.80 million, a P/E ratio of 11.33 and a beta of 0.12. The stock has a fifty day moving average of $24.43 and a 200-day moving average of $22.35.

South Atlantic Bancshares (OTCMKTS:SABK) last released its quarterly earnings data on Thursday, April 23rd. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $16.80 million. On average, research analysts forecast that South Atlantic Bancshares will post 2.39 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.