Select Bancorp (SLCT) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Select Bancorp (NASDAQ:SLCT) from a hold rating to a buy rating in a report published on Sunday morning.

Select Bancorp (NASDAQ SLCT) opened at $12.63 on Friday. Select Bancorp has a twelve month low of $9.60 and a twelve month high of $12.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $147.42, a P/E ratio of 21.78 and a beta of 0.27.

Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings results on Friday, November 3rd. The bank reported $0.15 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.04). Select Bancorp had a net margin of 16.86% and a return on equity of 6.38%. The company had revenue of $9.46 million for the quarter, compared to analyst estimates of $9.54 million. equities research analysts forecast that Select Bancorp will post 0.74 EPS for the current year.

In related news, Director Anthony Rand purchased 3,221 shares of the stock in a transaction on Monday, November 27th. The shares were bought at an average price of $12.08 per share, for a total transaction of $38,909.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.21% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Context BH Capital Management LP grew 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 worth $2,107,000 after acquiring an additional 543 shares during the last quarter. Bank of New York Mellon Corp grew 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 worth $1,013,000 after acquiring an additional 610 shares during the last quarter. Dimensional Fund Advisors LP grew 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 worth $1,413,000 after acquiring an additional 2,516 shares during the last quarter. ELCO Management Co. LLC grew 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 worth $570,000 after acquiring an additional 2,973 shares during the last quarter. Finally, ZPR Investment Management acquired a new stake in shares of Select Bancorp in the second quarter worth $131,000. Institutional investors and hedge funds own 18.94% of the company’s stock.

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About Select Bancorp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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