Bank of South Carolina Co. (NASDAQ: BKSC) Update on Short-Term Interest Rates
Bank of South Carolina Co. (NASDAQ: BKSC) was the target of a sharp drop in short-term interest rates during the month of December. As of December 15, there was short interest totaling 4,300 shares, a decrease of 65.6% from the total of 12,500 shares as of November 30. Based on an average trading volume of 3,000 shares, the day / coverage ratio is currently 1.4 days. About 0.1% of the company’s shares are sold short.
Several hedge funds have recently bought and sold shares of BKSC. Advisor Group Holdings Inc. acquired a new position in Bank of South Carolina shares during the third quarter valued at approximately $ 92,000. Jaffetilchin Investment Partners LLC increased its stake in Bank of South Carolina by 5.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 13,920 shares of the bank valued at $ 285,000 after purchasing an additional 692 shares in the last quarter. Geode Capital Management LLC strengthened its position in Bank of South Carolina by 7.2% during the 2nd quarter. Geode Capital Management LLC now owns 14,335 shares of the bank valued at $ 293,000 after purchasing an additional 962 shares during the period. Dimensional Fund Advisors LP increased its holdings of Bank of South Carolina shares by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 27,312 shares of the bank valued at $ 560,000 after purchasing an additional 904 shares in the last quarter. Finally, Morgan Stanley strengthened its position in Bank of South Carolina shares by 36.3% in the first quarter. Morgan Stanley now owns 25,810 shares of the bank valued at $ 583,000 after acquiring an additional 6,874 shares during the period. 8.57% of the shares are currently held by institutional investors and hedge funds.
BKSC stock opened at $ 20.50 on Wednesday. The company has a market cap of $ 113.51 million, a PE ratio of 16.80 and a beta of 0.48. Bank of South Carolina has a one-year low at $ 15.98 and a one-year high at $ 25.65. The company’s 50-day simple moving average is $ 20.29 and its 200-day simple moving average is $ 20.53.
Bank of South Carolina (NASDAQ: BKSC) last released its results on Thursday, October 14. The bank reported earnings of $ 0.30 per share for the quarter. Bank of South Carolina had a return on equity of 12.80% and a net margin of 31.88%.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 31. Investors of record on Tuesday, December 28 will receive a dividend of $ 0.17 per share. This represents a dividend of $ 0.68 on an annualized basis and a dividend yield of 3.32%. The ex-dividend date for this dividend is Monday, December 27. The Bank of South Carolina’s payout ratio is currently 55.74%.
About the Bank of South Carolina
Bank of South Carolina Corp. is a holding company that provides financial services. It offers banking services to individuals and businesses, including checks, savings, certificates of deposit, health savings accounts, retirement accounts, loans, credit cards, safes and Internet banking services.
See also: Cost base
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