Select Bancorp Inc (NASDAQ:SLCT) – Investment analysts at FIG Partners upped their FY2018 earnings per share estimates for shares of Select Bancorp in a research note issued on Monday, October 29th. FIG Partners analyst C. Marinac now anticipates that the bank will post earnings per share of $0.95 for the year, up from their previous estimate of $0.88. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Select Bancorp’s Q3 2019 earnings at $0.23 EPS and Q3 2020 earnings at $0.25 EPS.
Separately, ValuEngine upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating in a research note on Monday.
Shares of Select Bancorp stock opened at $12.26 on Wednesday. The firm has a market capitalization of $172.65 million, a price-to-earnings ratio of 20.10 and a beta of 0.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.05. Select Bancorp has a 52-week low of $11.50 and a 52-week high of $14.25.
Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings results on Monday, October 22nd. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.07. The firm had revenue of $12.92 million for the quarter, compared to analyst estimates of $13.61 million. Select Bancorp had a net margin of 12.66% and a return on equity of 8.83%.
Several large investors have recently modified their holdings of the company. Eidelman Virant Capital boosted its stake in shares of Select Bancorp by 9.4% in the 3rd quarter. Eidelman Virant Capital now owns 91,248 shares of the bank’s stock valued at $1,131,000 after purchasing an additional 7,806 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of Select Bancorp in the 2nd quarter valued at $193,000. Pwmco LLC acquired a new stake in shares of Select Bancorp in the 2nd quarter valued at $214,000. Salzhauer Michael boosted its stake in shares of Select Bancorp by 66.1% in the 3rd quarter. Salzhauer Michael now owns 50,270 shares of the bank’s stock valued at $623,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Select Bancorp in the 2nd quarter valued at $293,000. Institutional investors own 32.15% of the company’s stock.
In other news, Director Gerald W. Hayes, Jr. bought 2,395 shares of Select Bancorp stock in a transaction dated Wednesday, September 26th. The shares were bought at an average price of $12.50 per share, for a total transaction of $29,937.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Alan Jeffries bought 2,500 shares of Select Bancorp stock in a transaction dated Thursday, August 30th. The stock was purchased at an average price of $12.00 per share, for a total transaction of $30,000.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at approximately $30,000. The disclosure for this purchase can be found here. Insiders bought a total of 5,895 shares of company stock worth $71,938 in the last 90 days. 14.02% of the stock is owned by corporate insiders.
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 and NOW accounts, savings accounts, and time deposits.
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