- The economic recovery will likely drive loan growth. However, the upcoming forgiveness of Paycheck Protection Program loans will limit growth.
- BKSC’s allowances appear insufficient to cover expected pandemic-driven loan impairments.
- Most of the loans are based on variable rates; therefore, the portfolio yield has mostly incorporated the impact of last year’s interest rate cuts.
- The December 2021 target price suggests a limited upside from the current market price. Further, the dividend yield is modest.
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Bank Of South Carolina's Earnings Outlook Seems Stable