According to the National Hurricane Center (NHC), Sam was located over the Atlantic Ocean approximately 1,150 miles east-southeast of the northern Leeward Islands.
The storm was moving toward the west-northwest near 13 mph with slower movement to the west-northwest forecast over the weekend ahead of a turn to the northwest on Monday.
Sam's maximum sustained winds have increased to near 110 mph with higher gusts and hurricane-force winds extend outward up to 15 miles from the center.
Tropical-storm-force winds from the Category 2 hurricane extend outward up to 60 miles.
There are no coastal watches or warnings in effect.
Although the agency noted that Sam is a "small hurricane," additional strengthening is forecast to take place.
Sam is the 18th named storm of the Atlantic hurricane season and the fourth named storm to form in less than a week.
Subtropical storm Teresa formed Friday north of Bermuda and was weakening and projected to dissipate on Sunday.
Forecasters said Teresa was located about 150 miles north-northwest of Bermuda on Saturday morning and will likely be the ninth "shortie" of the hurricane season.
A shortie refers to a system that is short-lived and relatively weak.
The NHC said the storm was moving toward the west-northwest near 6 mph.
Its maximum sustained winds are near 40 mph with higher gusts and winds of 40 mph extend outward up to 140 miles from the center.
"Teresa is expected to become a remnant by tonight and dissipate on Sunday," the agency wrote.
The Associated Press contributed to this report.