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.
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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