Shares of Select Bancorp Inc (NASDAQ:SLCT) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price objective of $13.50 for the company and are forecasting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 48 out of 255 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, November 6th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RMB Capital Management LLC increased its position in Select Bancorp by 0.4% during the 2nd quarter. RMB Capital Management LLC now owns 1,749,923 shares of the bank’s stock worth $20,019,000 after purchasing an additional 7,346 shares during the period. Vanguard Group Inc. increased its position in Select Bancorp by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 866,009 shares of the bank’s stock worth $9,907,000 after purchasing an additional 23,991 shares during the period. BlackRock Inc. increased its position in Select Bancorp by 11.1% during the 2nd quarter. BlackRock Inc. now owns 799,709 shares of the bank’s stock worth $9,148,000 after purchasing an additional 79,854 shares during the period. State Street Corp increased its position in Select Bancorp by 12.5% during the 3rd quarter. State Street Corp now owns 315,282 shares of the bank’s stock worth $3,657,000 after purchasing an additional 35,005 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Select Bancorp by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 188,085 shares of the bank’s stock worth $2,152,000 after purchasing an additional 3,740 shares during the period. Institutional investors own 45.86% of the company’s stock.
SLCT stock traded down $0.07 during trading on Monday, hitting $11.86. The company had a trading volume of 15,480 shares, compared to its average volume of 26,661. The firm has a market cap of $220.86 million, a PE ratio of 12.48 and a beta of 0.38. Select Bancorp has a 1-year low of $10.14 and a 1-year high of $12.82. The firm has a 50-day moving average price of $11.60 and a 200-day moving average price of $11.31. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.
Select Bancorp (NASDAQ:SLCT) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The company had revenue of $13.32 million during the quarter, compared to analyst estimates of $13.80 million. Select Bancorp had a net margin of 22.79% and a return on equity of 6.83%. Sell-side analysts anticipate that Select Bancorp will post 0.77 earnings per share for the current year.
About Select Bancorp
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.
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