SouthCrest Financial Group (OTCMKTS:SCSG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of SouthCrest Financial Group (OTCMKTS:SCSG) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. The firm currently has $10.00 price target on the bank’s stock.

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. “

OTCMKTS:SCSG opened at $9.07 on Wednesday. The stock’s fifty day moving average is $9.81 and its two-hundred day moving average is $9.75. SouthCrest Financial Group has a 52 week low of $8.70 and a 52 week high of $10.82.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.21%. This is a boost from SouthCrest Financial Group’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, October 31st.

SouthCrest Financial Group Company Profile

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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