South Atlantic Bancshares downgraded to Neutral from Buy at Janney Montgomery Scott

Janney Montgomery Scott analyst John Rodis downgraded South Atlantic Bancshares (SABK) to Neutral from Buy with a fair value estimate of $19, up from $17.25. Since the firm upgraded the stock one week ago, the shares are up 29%, notes the analyst, who is lowering the firm’s rating “based solely on valuation.”