SouthCrest Financial Group (SCSG) Cut to “Sell” at Zacks Investment Research

SouthCrest Financial Group (OTCMKTS:SCSG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

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. “

SCSG has been the topic of several other reports. ValuEngine cut SouthCrest Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. FIG Partners cut SouthCrest Financial Group from an “outperform” rating to a “market-perform” rating in a research report on Friday, July 27th.

Shares of OTCMKTS:SCSG opened at $10.36 on Tuesday. SouthCrest Financial Group has a fifty-two week low of $9.85 and a fifty-two week high of $12.80.

SouthCrest Financial Group (OTCMKTS:SCSG) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $5.90 million during the quarter, compared to analysts’ expectations of $5.79 million. As a group, equities analysts expect that SouthCrest Financial Group will post 0.5 EPS for the current year.

About SouthCrest Financial Group

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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