Select Bancorp (NASDAQ:SLCT) Stock Rating Upgraded by ValuEngine

Select Bancorp (NASDAQ:SLCT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday, April 10th, ValuEngine reports.

Separately, Zacks Investment Research upgraded Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Saturday, January 26th.

Shares of NASDAQ SLCT remained flat at $$12.00 during trading on Wednesday. The stock had a trading volume of 6,388 shares, compared to its average volume of 18,235. Select Bancorp has a 1 year low of $10.14 and a 1 year high of $14.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $231.91 million, a PE ratio of 12.63 and a beta of 0.21.

Select Bancorp (NASDAQ:SLCT) last issued its quarterly earnings results on Tuesday, April 30th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Select Bancorp had a net margin of 24.54% and a return on equity of 8.21%. The firm had revenue of $12.65 million for the quarter, compared to analysts’ expectations of $13.14 million. As a group, research analysts forecast that Select Bancorp will post 0.9 earnings per share for the current fiscal year.

In other news, Director James H. Jr. Glen sold 4,450 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $11.15, for a total value of $49,617.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Seth Wilfong acquired 25,000 shares of the business’s stock in a transaction dated Friday, February 15th. The stock was purchased at an average price of $12.00 per share, with a total value of $300,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 45,475 shares of company stock worth $532,028 and sold 26,130 shares worth $298,699. 15.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SLCT. Rhumbline Advisers purchased a new position in shares of Select Bancorp in the 3rd quarter worth about $132,000. BlackRock Inc. boosted its holdings in Select Bancorp by 5.9% during the 3rd quarter. BlackRock Inc. now owns 514,249 shares of the bank’s stock valued at $6,377,000 after acquiring an additional 28,750 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Select Bancorp by 17.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 176,045 shares of the bank’s stock valued at $2,183,000 after acquiring an additional 25,650 shares during the period. Vanguard Group Inc. boosted its holdings in Select Bancorp by 39.1% during the 3rd quarter. Vanguard Group Inc. now owns 595,454 shares of the bank’s stock valued at $7,384,000 after acquiring an additional 167,235 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Select Bancorp by 39.1% during the 3rd quarter. Vanguard Group Inc now owns 595,454 shares of the bank’s stock valued at $7,384,000 after acquiring an additional 167,235 shares during the period. Hedge funds and other institutional investors own 47.64% of the company’s stock.

About Select Bancorp

Select Bancorp, Inc operates as the bank holding company for Select Bank & Trust Company that provides banking services to individuals and small to medium-sized businesses. The company accepts deposit products, such as non-interest-bearing demand deposits, Money market deposit and NOW accounts, savings accounts, and time deposits, as well as certificates of deposit.

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