Zacks: Select Bancorp Inc (SLCT) Receives Average Rating of “Strong Buy” from Analysts

Select Bancorp Inc (NASDAQ:SLCT) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price target of $14.00 for the company and are expecting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Select Bancorp an industry rank of 85 out of 256 based on the ratings given to related companies.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of Select Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research downgraded shares of Select Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th.

In other Select Bancorp news, COO Lynn H. Johnson sold 14,380 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $11.59, for a total transaction of $166,664.20. Following the completion of the sale, the chief operating officer now owns 800 shares in the company, valued at approximately $9,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Jr. Glen sold 4,450 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $11.15, for a total transaction of $49,617.50. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 20,475 shares of company stock valued at $232,028 and have sold 26,130 shares valued at $298,699. Insiders own 15.90% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Select Bancorp by 41.9% during the 4th quarter. BlackRock Inc. now owns 729,753 shares of the bank’s stock valued at $9,033,000 after purchasing an additional 215,504 shares in the last quarter. Vanguard Group Inc increased its stake in Select Bancorp by 39.1% during the 3rd quarter. Vanguard Group Inc now owns 595,454 shares of the bank’s stock valued at $7,384,000 after purchasing an additional 167,235 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Select Bancorp by 39.1% in the 3rd quarter. Vanguard Group Inc. now owns 595,454 shares of the bank’s stock worth $7,384,000 after acquiring an additional 167,235 shares in the last quarter. JCSD Capital LLC grew its stake in shares of Select Bancorp by 14.3% in the 4th quarter. JCSD Capital LLC now owns 557,340 shares of the bank’s stock worth $6,900,000 after acquiring an additional 69,840 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. grew its stake in shares of Select Bancorp by 4.2% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 493,038 shares of the bank’s stock worth $6,103,000 after acquiring an additional 19,778 shares in the last quarter. Institutional investors and hedge funds own 47.62% of the company’s stock.

Shares of Select Bancorp stock traded down $0.08 during trading on Friday, reaching $11.05. 10,340 shares of the company traded hands, compared to its average volume of 16,815. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31. Select Bancorp has a 1-year low of $10.14 and a 1-year high of $14.25. The company has a market capitalization of $213.75 million, a PE ratio of 11.64 and a beta of 0.21.

Select Bancorp (NASDAQ:SLCT) last released its earnings results on Tuesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). Select Bancorp had a net margin of 24.54% and a return on equity of 7.91%. The company had revenue of $12.65 million for the quarter, compared to analyst estimates of $13.14 million. Sell-side analysts expect that Select Bancorp will post 0.77 EPS for the current fiscal 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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