Bank of South Carolina (NASDAQ:BKSC) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Bank of South Carolina (NASDAQ:BKSCFree Report) in a research note released on Friday. The brokerage issued a sell rating on the bank’s stock.

Bank of South Carolina Stock Up 0.9 %

NASDAQ BKSC opened at $12.95 on Friday. The stock has a market capitalization of $70.84 million, a P/E ratio of 13.21 and a beta of 0.58. Bank of South Carolina has a 52-week low of $9.52 and a 52-week high of $17.15. The firm has a 50-day moving average price of $13.56 and a 200 day moving average price of $12.64.

Bank of South Carolina (NASDAQ:BKSCGet Free Report) last posted its quarterly earnings results on Thursday, January 11th. The bank reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $5.08 million during the quarter. Bank of South Carolina had a net margin of 21.07% and a return on equity of 12.95%.

Bank of South Carolina Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, January 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 5.25%. Bank of South Carolina’s dividend payout ratio (DPR) is presently 69.39%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. increased its holdings in Bank of South Carolina by 37.8% in the first quarter. Advisor Group Holdings Inc. now owns 6,359 shares of the bank’s stock valued at $119,000 after buying an additional 1,744 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Bank of South Carolina in the fourth quarter valued at about $150,000. BlackRock Inc. grew its position in shares of Bank of South Carolina by 11.3% in the second quarter. BlackRock Inc. now owns 11,304 shares of the bank’s stock valued at $158,000 after purchasing an additional 1,149 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Bank of South Carolina in the first quarter valued at approximately $173,000. Finally, State Street Corp acquired a new stake in shares of Bank of South Carolina in the second quarter valued at approximately $197,000. 6.50% of the stock is owned by hedge funds and other institutional investors.

About Bank of South Carolina

(Get Free Report)

Bank of South Carolina Corporation operates as a bank holding company for The Bank of South Carolina that provides a range of financial products and services primarily in Charleston, Berkeley, and Dorchester counties of South Carolina. Its deposits include non-interest-bearing demand accounts, NOW accounts, money market accounts, time deposits, and savings accounts, as well as certificates of deposit.

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