Select Bancorp (SLCT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Select Bancorp (NASDAQ:SLCT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

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 report on Sunday, December 31st.

Shares of Select Bancorp (NASDAQ SLCT) opened at $13.00 on Friday. Select Bancorp has a twelve month low of $10.58 and a twelve month high of $14.06. The stock has a market capitalization of $153.83, a PE ratio of 22.41 and a beta of 0.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

In related news, Director Anthony Rand bought 3,221 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average price of $12.08 per share, for a total transaction of $38,909.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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 the business. Bank of New York Mellon Corp increased its position in Select Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 82,953 shares of the bank’s stock worth $1,013,000 after buying an additional 610 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Select Bancorp by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 115,629 shares of the bank’s stock worth $1,413,000 after buying an additional 2,516 shares during the last quarter. Wells Fargo & Company MN increased its position in Select Bancorp by 17.6% during the fourth quarter. Wells Fargo & Company MN now owns 63,169 shares of the bank’s stock worth $799,000 after buying an additional 9,448 shares during the last quarter. Monashee Investment Management LLC acquired a new position in Select Bancorp during the fourth quarter worth approximately $164,000. Finally, Brightworth acquired a new position in Select Bancorp during the third quarter worth approximately $362,000. 19.47% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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