Analysts Set $14.75 Target Price for Select Bancorp Inc (SLCT)

Shares of Select Bancorp Inc (NASDAQ:SLCT) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price objective of $14.75 for the company and are forecasting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Select Bancorp an industry rank of 185 out of 255 based on the ratings given to related companies.

A number of brokerages have recently issued reports on SLCT. ValuEngine raised shares of Select Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Saturday, January 26th.

In related news, Director Seth Wilfong purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was acquired at an average price of $12.00 per share, with a total value of $300,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Oscar N. Harris purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average cost of $11.40 per share, with a total value of $114,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 45,475 shares of company stock valued at $532,028 and sold 26,130 shares valued at $298,699. Insiders own 14.02% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Select Bancorp by 41.9% during the fourth quarter. BlackRock Inc. now owns 729,753 shares of the bank’s stock worth $9,033,000 after acquiring an additional 215,504 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Select Bancorp by 39.1% during the third quarter. Vanguard Group Inc now owns 595,454 shares of the bank’s stock worth $7,384,000 after purchasing an additional 167,235 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Select Bancorp by 39.1% during the third quarter. Vanguard Group Inc. now owns 595,454 shares of the bank’s stock worth $7,384,000 after purchasing an additional 167,235 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Select Bancorp by 58.9% in the third quarter. Alliancebernstein L.P. now owns 590,858 shares of the bank’s stock valued at $7,327,000 after acquiring an additional 218,998 shares during the last quarter. Finally, JCSD Capital LLC boosted its holdings in Select Bancorp by 14.3% in the fourth quarter. JCSD Capital LLC now owns 557,340 shares of the bank’s stock valued at $6,900,000 after acquiring an additional 69,840 shares during the last quarter. 47.65% of the stock is owned by institutional investors and hedge funds.

SLCT stock traded up $0.11 during midday trading on Tuesday, reaching $12.09. 7,200 shares of the company were exchanged, compared to its average volume of 18,741. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.13 and a quick ratio of 1.13. Select Bancorp has a one year low of $10.14 and a one year high of $14.25. The stock has a market cap of $229.02 million, a price-to-earnings ratio of 12.73 and a beta of 0.17.

Select Bancorp (NASDAQ:SLCT) last released its quarterly earnings data on Friday, January 25th. The bank reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The firm had revenue of $13.14 million during the quarter, compared to analysts’ expectations of $13.12 million. Select Bancorp had a net margin of 22.40% and a return on equity of 8.61%. Research analysts anticipate that Select Bancorp will post 0.9 EPS for the current fiscal year.

Select Bancorp Company Profile

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.

See Also: How a Back-End Load Mutual Fund Works

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

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.



Comments


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