Select Bancorp (NASDAQ:SLCT) Releases Earnings Results, Meets Expectations

Select Bancorp (NASDAQ:SLCT) announced its quarterly earnings data on Friday. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18, Fidelity Earnings reports. Select Bancorp had a net margin of 24.54% and a return on equity of 7.91%. The firm had revenue of $13.03 million during the quarter, compared to analyst estimates of $12.93 million.

Shares of SLCT traded down $0.14 during mid-day trading on Friday, hitting $11.02. 18,619 shares of the company’s stock were exchanged, compared to its average volume of 10,465. The company has a market capitalization of $219.36 million, a P/E ratio of 11.60 and a beta of 0.36. Select Bancorp has a fifty-two week low of $10.14 and a fifty-two week high of $14.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50-day moving average of $11.37.

Several brokerages have weighed in on SLCT. Zacks Investment Research lowered shares of Select Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. ValuEngine raised shares of Select Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th.

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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Earnings History for Select Bancorp (NASDAQ:SLCT)

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