Select Bancorp (SLCT) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Select Bancorp (NASDAQ:SLCT) from a sell rating to a hold rating in a report published on Saturday, February 10th.

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 raised Select Bancorp from a hold rating to a buy rating in a report on Sunday, December 31st.

Select Bancorp (NASDAQ SLCT) opened at $13.45 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. Select Bancorp has a fifty-two week low of $10.58 and a fifty-two week high of $14.06. The company has a market capitalization of $156.86, a price-to-earnings ratio of 23.19 and a beta of 0.19.

In related news, Director Anthony Rand purchased 3,221 shares of Select Bancorp stock in a transaction on Monday, November 27th. The shares were purchased at an average price 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 this hyperlink. Insiders own 14.21% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in shares of Select Bancorp by 0.7% in 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 buying an additional 610 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Select Bancorp by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 115,629 shares of the bank’s stock valued at $1,413,000 after buying an additional 2,516 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Select Bancorp by 17.6% in the 4th quarter. Wells Fargo & Company MN now owns 63,169 shares of the bank’s stock valued at $799,000 after buying an additional 9,448 shares during the last quarter. Monashee Investment Management LLC bought a new stake in shares of Select Bancorp in the 4th quarter valued at about $164,000. Finally, Kennedy Capital Management Inc. grew its position in shares of Select Bancorp by 16.7% in the 4th quarter. Kennedy Capital Management Inc. now owns 215,668 shares of the bank’s stock valued at $2,726,000 after buying an additional 30,828 shares during the last quarter. Hedge funds and other institutional investors own 19.36% of the company’s stock.

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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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