Bank of South Carolina (NASDAQ:BKSC) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Bank of South Carolina (NASDAQ:BKSC) in a research report released on Sunday. The brokerage issued a sell rating on the bank’s stock.

Bank of South Carolina Stock Up 1.3 %

Shares of Bank of South Carolina stock opened at $12.17 on Friday. Bank of South Carolina has a 52 week low of $9.52 and a 52 week high of $15.24. The stock’s fifty day moving average is $12.37 and its two-hundred day moving average is $12.57. The company has a market capitalization of $66.45 million, a PE ratio of 12.81 and a beta of 0.57.

Bank of South Carolina (NASDAQ:BKSC) last posted its quarterly earnings results on Tuesday, April 9th. The bank reported $0.25 earnings per share (EPS) for the quarter. Bank of South Carolina had a return on equity of 12.11% and a net margin of 19.55%. The business had revenue of $5.16 million for the quarter.

Bank of South Carolina Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend is Monday, April 8th. Bank of South Carolina’s payout ratio is 71.58%.

Hedge Funds Weigh In On Bank of South Carolina

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. raised its stake 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 during the last quarter. Citigroup Inc. acquired a new stake in Bank of South Carolina in the first quarter valued at approximately $222,000. Renaissance Technologies LLC grew its holdings in Bank of South Carolina by 23.6% in the first quarter. Renaissance Technologies LLC now owns 18,881 shares of the bank’s stock valued at $352,000 after purchasing an additional 3,611 shares during the period. State Street Corp acquired a new stake in Bank of South Carolina in the second quarter valued at approximately $197,000. Finally, Dimensional Fund Advisors LP grew its holdings in Bank of South Carolina by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 28,485 shares of the bank’s stock valued at $466,000 after purchasing an additional 1,073 shares during the period. Institutional investors own 0.18% of the company’s stock.

About Bank of South Carolina

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.