SouthCrest Financial Group (SCSG) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of SouthCrest Financial Group (OTCMKTS:SCSG) from a sell rating to a hold rating in a report released on Friday morning.

According to Zacks, “SouthCrest Financial Group, Inc., through its subsidiaries, provides commercial and community-banking products and services. It is the parent company of four bank subsidiaries, Bank of Upson, The First National Bank of Polk County, Peachtree and Bank of Chickamauga. It offers various deposit products, consumer loans to individuals; commercial loans to small and medium-sized businesses, and professional organizations; and secured real estate loans, including residential and commercial construction loans, and first and second mortgage loans for the acquisition and improvement of personal residences. In addition, it provides traveler’s checks; brokerage services for stocks, bonds, mutual funds, IRA’s, 529 plans, retirement plans, certificates of deposit, and insurance products; and estate analysis, consultation, and estate and agency accounts, as well as non-profit agency services. The company is headquartered in Fayetteville, Georgia. “

Separately, FIG Partners cut SouthCrest Financial Group from an outperform rating to a market-perform rating in a research note on Friday, July 27th.

SCSG stock opened at $10.51 on Friday. The firm has a market cap of $65.67 million, a PE ratio of 21.73 and a beta of 0.18. SouthCrest Financial Group has a twelve month low of $9.85 and a twelve month high of $12.80.

SouthCrest Financial Group (OTCMKTS:SCSG) last released its earnings results on Wednesday, October 24th. The bank reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $5.90 million for the quarter, compared to the consensus estimate of $5.79 million. On average, research analysts forecast that SouthCrest Financial Group will post 0.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $0.12 annualized dividend and a dividend yield of 1.14%.

SouthCrest Financial Group Company Profile

SouthCrest Financial Group, Inc operates as the bank holding company for SouthCrest Bank, N.A. that provides banking services. The company accepts checking, savings, and money market accounts; and certificates of deposit. Its loan products include personal loans for cars, boats, recreational vehicles, and other purchases; home equity lines of credit; loans on investment properties; owner occupied real estate, construction and development, equipment and inventory, practice, and Georgia entertainment tax credit financing; construction to permanent, investment real estate, and acquisition and development loans; and working capital and lines of credit.

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