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

StockNews.com began coverage on shares of Bank of South Carolina (NASDAQ:BKSC) in a research note published on Saturday morning. The brokerage issued a sell rating on the bank’s stock.

Bank of South Carolina Trading Down 0.7 %

Shares of Bank of South Carolina stock opened at $11.97 on Friday. Bank of South Carolina has a 12 month low of $9.52 and a 12 month high of $15.24. The business has a fifty day simple moving average of $12.43 and a two-hundred day simple moving average of $12.52. The firm has a market capitalization of $65.36 million, a P/E ratio of 12.60 and a beta of 0.57.

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

Bank of South Carolina Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Monday, April 8th. Bank of South Carolina’s dividend payout ratio (DPR) is 71.58%.

Hedge Funds Weigh In On Bank of South Carolina

A number of hedge funds have recently bought and sold shares of BKSC. Raymond James Financial Services Advisors Inc. acquired a new stake in Bank of South Carolina during the 4th quarter worth approximately $150,000. Wells Fargo & Company MN boosted its position in shares of Bank of South Carolina by 69.5% during the second quarter. Wells Fargo & Company MN now owns 16,958 shares of the bank’s stock worth $237,000 after buying an additional 6,953 shares during the period. BlackRock Inc. lifted its position in Bank of South Carolina by 11.3% in the second quarter. BlackRock Inc. now owns 11,304 shares of the bank’s stock worth $158,000 after purchasing an additional 1,149 shares during the period. Geode Capital Management LLC lifted its position in shares of Bank of South Carolina by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 29,568 shares of the bank’s stock valued at $408,000 after acquiring an additional 3,839 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bank of South Carolina by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 30,732 shares of the bank’s stock valued at $424,000 after purchasing an additional 2,247 shares in the last quarter. Hedge funds and other institutional investors own 0.18% of the company’s stock.

Bank of South Carolina Company Profile

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.