OTCPK:SABK

Stock Analysis Report

South Atlantic Bancshares

Executive Summary

South Atlantic Bancshares, Inc. operates as the bank holding company for South Atlantic Bank that provides various banking products and services to individuals and businesses primarily in Horry, Georgetown, Charleston, and Beaufort counties, South Carolina.

Snowflake

Fundamentals

Flawless balance sheet with acceptable track record.

Share Price & News

How has South Atlantic Bancshares's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.4%

SABK

3.7%

US Banks

1.8%

US Market


1 Year Return

-12.2%

SABK

1.9%

US Banks

7.3%

US Market

Return vs Industry: SABK underperformed the US Banks industry which returned 1.9% over the past year.

Return vs Market: SABK underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

SABKIndustryMarket
7 Day0.4%3.7%1.8%
30 Day-0.2%0.2%-0.7%
90 Day-2.6%2.5%0.06%
1 Year-12.2%-12.2%4.9%1.9%9.7%7.3%
3 Year33.9%33.9%51.7%41.2%46.3%36.9%
5 Yearn/a69.7%51.2%64.5%46.5%

Price Volatility Vs. Market

How volatile is South Atlantic Bancshares's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is South Atlantic Bancshares undervalued compared to its fair value and its price relative to the market?

15.18x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: SABK ($12.42) is trading above our estimate of fair value ($5.12)

Significantly Undervalued: SABK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SABK is poor value based on its PE Ratio (15.2x) compared to the Banks industry average (12.6x).

PE vs Market: SABK is good value based on its PE Ratio (15.2x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate SABK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: SABK is good value based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is South Atlantic Bancshares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SABK's forecast earnings growth (12.4% per year) is above the savings rate (2.7%).

Earnings vs Market: SABK's earnings (12.4% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: SABK's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if SABK's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if SABK's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if SABK's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has South Atlantic Bancshares performed over the past 5 years?

21.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: SABK's earnings have grown significantly by 21.3% per year over the past 5 years.

Accelerating Growth: SABK's earnings growth over the past year (114.5%) exceeds its 5-year average (21.3% per year).

Earnings vs Industry: SABK earnings growth over the past year (114.5%) exceeded the Banks industry 30.5%.


Return on Equity

High ROE: SABK's Return on Equity (7.8%) is considered low.


Return on Assets

ROA vs Industry: SABK's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate SABK's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is South Atlantic Bancshares's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SABK has a low level of unsold assets or inventory.

Debt Coverage by Assets: SABK's debt is covered by short term assets (assets are 1.199130x debt).


Financial Institutions Analysis

Asset Level: SABK's level of assets compared to its equity is low.

Allowance for Bad Loans: SABK has a sufficient allowance for bad loans.

Low Risk Liabilities: SABK's liabilities are made up of primarily low risk sources of funding.

Loan Level: SABK has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SABK's loans are broadly funded by customer deposits.

Level of Bad Loans: SABK has an appropriate level of bad loans (0.11%)


Next Steps

Dividend

What is South Atlantic Bancshares's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage3.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate SABK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate SABK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if SABK's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SABK's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SABK's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of South Atlantic Bancshares's salary, the management and board of directors tenure and is there insider trading?

12.8yrs

Average management tenure


CEO

Wayne Wicker (53yo)

12.8yrs

Tenure

0

Mr. K. Wayne Wicker serves as Chairman of The Board and Chief Executive Officer of South Atlantic Bancshares, Inc. and South Atlantic Bank. He is a veteran banker with more than 28 years of experience in t ...


Management Age and Tenure

12.8yrs

Average Tenure

53yo

Average Age

Experienced Management: SABK's management team is seasoned and experienced (12.8 years average tenure).


Board Age and Tenure

12.8yrs

Average Tenure

57yo

Average Age

Experienced Board: SABK's board of directors are seasoned and experienced ( 12.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Dick Burch (60yo)

    Executive VP

    • Tenure: 12.8yrs
  • Tiffany Suggs

    Senior VP and Director of Branch & Deposit Operations

    • Tenure: 0yrs
  • Scott Plyler (47yo)

    President & Director

    • Tenure: 12.8yrs
  • Wayne Wicker (53yo)

    Chairman & CEO

    • Tenure: 12.8yrs
  • C. Elmore

    Executive VP & Chief Credit Officer

    • Tenure: 0yrs
  • Mary Rogers

    Executive VP & Chief Lending Officer

    • Tenure: 0yrs
  • Candace Cherry

    Senior VP of Administration & Corporate Liaison

    • Tenure: 0yrs
  • Beth Branham

    VP & Director of Marketing

    • Tenure: 0yrs
  • Tanya Slavin

    VP & Director of Compliance

    • Tenure: 0yrs
  • Carrie Harris

    Senior VP & Director of Human Resources

    • Tenure: 0yrs

Board Members

  • Dick Burch (60yo)

    Executive VP

    • Tenure: 12.8yrs
  • Tony Cox (60yo)

    Director

    • Tenure: 12.8yrs
  • Scott Plyler (47yo)

    President & Director

    • Tenure: 12.8yrs
  • Wayne Wicker (53yo)

    Chairman & CEO

    • Tenure: 12.8yrs
  • Carson Benton (60yo)

    Director

    • Tenure: 12.8yrs
  • Tommy Brittain (65yo)

    Director

    • Tenure: 12.8yrs
  • Miles Herring (47yo)

    Director

    • Tenure: 12.8yrs
  • Martha Lewis (60yo)

    Director

    • Tenure: 8.8yrs
  • Albert Springs (53yo)

    Director

    • Tenure: 12.8yrs
  • Jay Springs (54yo)

    Director

    • Tenure: 12.8yrs

Company Information

South Atlantic Bancshares, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: South Atlantic Bancshares, Inc.
  • Ticker: SABK
  • Exchange: OTCPK
  • Founded: 2007
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$93.200m
  • Shares outstanding: 7.50m
  • Website: https://www.southatlantic.bank

Location

  • South Atlantic Bancshares, Inc.
  • 29th Avenue North
  • Suite 630
  • Myrtle Beach
  • South Carolina
  • 29577
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SABKOTCPK (Pink Sheets LLC)YesCommon StockUSUSDNov 2012

Biography

South Atlantic Bancshares, Inc. operates as the bank holding company for South Atlantic Bank that provides various banking products and services to individuals and businesses primarily in Horry, Georgetown ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 00:13
End of Day Share Price2019/10/17 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.