Zacks Investment Research downgraded shares of Select Bancorp (NASDAQ:SLCT) from a hold rating to a sell rating in a report released on Tuesday morning.
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. “
Separately, ValuEngine upgraded Select Bancorp from a hold rating to a buy rating in a research note on Sunday, December 31st.
In related news, Director Anthony Rand acquired 3,221 shares of the stock in a transaction dated Monday, November 27th. The shares were bought at an average cost of $12.08 per share, for a total transaction of $38,909.68. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 14.21% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SLCT. Bank of New York Mellon Corp grew its stake in shares of Select Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 82,953 shares of the bank’s stock valued at $1,013,000 after purchasing an additional 610 shares during the period. Vanguard Group Inc. grew its position in Select Bancorp by 36.9% during the 2nd quarter. Vanguard Group Inc. now owns 202,655 shares of the bank’s stock worth $2,476,000 after acquiring an additional 54,635 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Select Bancorp by 2.2% during the 2nd 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. Janus Henderson Group PLC bought a new stake in Select Bancorp during the 2nd quarter worth approximately $723,000. Finally, Brightworth bought a new stake in Select Bancorp during the 3rd quarter worth approximately $362,000. Institutional investors own 19.36% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Select Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.