Trending Stock: Bank of South Carolina Corporation (NASDAQ: BKSC)

Bank of South Carolina Corporation (NASDAQ: BKSC) spotted trading -17.03% off 52-week high price. On the other end, the stock has been noted 43.02% away from the low price over the last 52-weeks. The stock changed 2.06% to recent value of $16.34. The stock transacted 12542 shares during most recent day however it has an average volume of 8.29K shares. The company has 5.53M of outstanding shares and 3.67M shares were floated in the market.

he Bank of South Carolina Corporation (BKSC) reported unaudited earnings of $1,341,636, or $0.24 and $0.23 basic and diluted earnings per share, respectively, for the quarter ended June 30, 2020 – a decrease of $499,211, or 27.12%, from earnings for the quarter ended June 30, 2019 of $1,840,847, or $0.33 basic and diluted earnings per share. Unaudited earnings for the six months ended June 30, 2020 reduced $507,957, or 14.39%, to $3,022,154 contrast to $3,530,111 for the six months ended June 20, 2019. Annualized returns on average assets and average equity for the six months ended June 30, 2020 were 1.28% and 11.46%, respectively, contrast with June 30, 2019 annualized returns on average assets and average equity of 1.65% and 14.99%, respectively.

Fleetwood S. Hassell, President of the Bank of South Carolina, stated, “An interest rate environment rivaling that of the Great Recession has continued to impact our margins and thus our profits for the second quarter. We are, however, encouraged by the outstanding contribution from our mortgage operation and the robust deposit growth already experienced this year.  Asset quality remains strong as we have not, to-date, experienced a important number of requests from borrowers for payment deferrals or other accommodations.  Our exposure to the hospitality and retail markets is minimal.

Our participation in the Payroll Protection Program resulted in the origination of 266 loans totaling over $37M.  We are extremely proud of the effort put forth by our employees to serve the needs of Lowcountry businesses and not-for-profit organizations during these difficult times.

We remain well capitalized and continue to reward our shareholders, having paid quarterly cash dividends in 123 of the last 125 quarters. I am encouraged that, in the last half of this year, we will continue to serve and support our consumers with the goal for all to remain healthy.”

Its earnings per share (EPS) expected to touch remained 5.70% for this year. The price moved ahead of -1.19% from the mean of 20 days, 1.24% from mean of 50 days SMA and performed -7.36% from mean of 200 days price. Company’s performance for the week was -5.82%, 2.90% for month and YTD performance remained -12.99%.

 

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