Zacks: Select Bancorp Inc (NASDAQ:SLCT) Given Consensus Recommendation of “Strong Buy” by Analysts

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

Brokerages have set a twelve-month consensus price target of $13.50 for the company and are anticipating that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 149 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut shares of Select Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Select Bancorp stock traded up $0.09 during mid-day trading on Friday, reaching $10.70. The company had a trading volume of 13,900 shares, compared to its average volume of 20,555. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31. Select Bancorp has a 52 week low of $10.14 and a 52 week high of $14.25. The company has a 50 day moving average of $11.27 and a 200-day moving average of $11.51. The firm has a market cap of $204.37 million, a price-to-earnings ratio of 11.26 and a beta of 0.36.

Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings data on Friday, August 2nd. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Select Bancorp had a net margin of 24.90% and a return on equity of 7.35%. The company had revenue of $13.03 million during the quarter, compared to analysts’ expectations of $12.93 million. On average, analysts predict that Select Bancorp will post 0.76 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in shares of Select Bancorp by 521.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,279 shares of the bank’s stock worth $37,000 after purchasing an additional 2,751 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Select Bancorp during the 1st quarter worth about $101,000. Rhumbline Advisers increased its position in shares of Select Bancorp by 16.3% during the 1st quarter. Rhumbline Advisers now owns 18,995 shares of the bank’s stock worth $216,000 after purchasing an additional 2,663 shares in the last quarter. Bank of America Corp DE increased its position in shares of Select Bancorp by 98.8% during the 4th quarter. Bank of America Corp DE now owns 36,555 shares of the bank’s stock worth $453,000 after purchasing an additional 18,163 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Select Bancorp by 11.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 39,034 shares of the bank’s stock worth $447,000 after purchasing an additional 3,974 shares in the last quarter. Institutional investors and hedge funds own 47.41% of the company’s stock.

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.

Further Reading: CD Ladder

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