Select Bancorp (SLCT) Stock Rating Upgraded by ValuEngine

Select Bancorp (NASDAQ:SLCT) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Shares of Select Bancorp (SLCT) opened at $12.64 on Friday. The company has a market cap of $147.42, a P/E ratio of 21.79 and a beta of 0.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01. Select Bancorp has a 12 month low of $9.60 and a 12 month high of $12.75.

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

In other Select Bancorp news, Director Anthony Rand acquired 3,221 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was acquired at an average cost of $12.08 per share, for a total transaction of $38,909.68. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 14.21% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SLCT. Dimensional Fund Advisors LP lifted its stake in Select Bancorp by 5.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 113,113 shares of the bank’s stock valued at $1,242,000 after acquiring an additional 5,717 shares during the period. Bank of New York Mellon Corp lifted its stake in Select Bancorp by 0.7% during 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 acquiring an additional 610 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Select Bancorp during the 2nd quarter valued at approximately $499,000. Context BH Capital Management LP lifted its stake in Select Bancorp by 0.3% during the 2nd quarter. Context BH Capital Management LP now owns 172,410 shares of the bank’s stock valued at $2,107,000 after acquiring an additional 543 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Select Bancorp by 36.9% during the 2nd quarter. Vanguard Group Inc. now owns 202,655 shares of the bank’s stock valued at $2,476,000 after acquiring an additional 54,635 shares during the period. 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.

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