Select Bancorp, Inc. (NASDAQ:SLCT) Rating Lowered to Hold at Zacks Investment Research

Select Bancorp, Inc. (NASDAQ:SLCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, July 25th.

According to Zacks, “Select Bancorp Inc. is a bank holding company. It engages in providing personal and business banking products through its branches and the Internet. The Bank offers a range of banking services, including checking and savings accounts, commercial, consumer, mortgage and personal loans, and other associated financial services. Select Bancorp, Inc., formerly known as New Century Bancorp, Inc., is based in United States. “

Several other research firms have also recently issued reports on SLCT. FIG Partners cut Select Bancorp from an “outperform” rating to a “market perform” rating and set a $13.00 target price on the stock. in a research note on Monday, May 22nd. ValuEngine cut Select Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 7th.

Select Bancorp (SLCT) traded up 0.53% during trading on Tuesday, reaching $11.46. The company’s stock had a trading volume of 8,008 shares. The company’s 50 day moving average price is $11.89 and its 200-day moving average price is $11.48. Select Bancorp has a 1-year low of $7.78 and a 1-year high of $12.75. The stock has a market cap of $133.65 million, a P/E ratio of 19.76 and a beta of 0.33.

Select Bancorp (NASDAQ:SLCT) last posted its earnings results on Tuesday, August 1st. The bank reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $9.05 million during the quarter, compared to the consensus estimate of $9.28 million. Select Bancorp had a return on equity of 6.44% and a net margin of 17.31%. Equities analysts forecast that Select Bancorp will post $0.64 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Select Bancorp, Inc. (NASDAQ:SLCT) Rating Lowered to Hold at Zacks Investment Research” was published by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The original version of this report can be accessed at https://www.com-unik.info/2017/08/19/zacks-investment-research-lowers-select-bancorp-inc-nasdaqslct-to-hold-updated-updated-updated.html.

Hedge funds have recently modified their holdings of the company. Context BH Capital Management LP raised its stake in shares of Select Bancorp by 0.3% in the second quarter. Context BH Capital Management LP now owns 172,410 shares of the bank’s stock valued at $2,107,000 after buying an additional 543 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Select Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 82,953 shares of the bank’s stock valued at $1,013,000 after buying an additional 610 shares during the period. Mendon Capital Advisors Corp raised its stake in shares of Select Bancorp by 2.2% in the first quarter. Mendon Capital Advisors Corp now owns 43,671 shares of the bank’s stock valued at $476,000 after buying an additional 930 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Select Bancorp by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 115,629 shares of the bank’s stock valued at $1,413,000 after buying an additional 2,516 shares during the period. Finally, ELCO Management Co. LLC raised its stake in shares of Select Bancorp by 6.8% in the second quarter. ELCO Management Co. LLC now owns 46,644 shares of the bank’s stock valued at $570,000 after buying an additional 2,973 shares during the period. Institutional investors and hedge funds own 14.73% of the company’s stock.

Select Bancorp Company Profile

Select Bancorp, Inc is the bank holding company for Select Bank & Trust Company (the Bank). The Bank is a commercial bank. The Bank provides commercial and retail financial services to customers located in its market areas. The Bank offers a range of banking services, including checking and savings accounts, commercial, consumer, mortgage and personal loans, and other associated financial services.

Get a free copy of the Zacks research report on Select Bancorp (SLCT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Select Bancorp Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Select Bancorp Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit