Zacks: Select Bancorp Inc (NASDAQ:SLCT) Receives Average Recommendation of “Strong Buy” from Brokerages
Shares of Select Bancorp Inc (NASDAQ:SLCT) have received a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a twelve-month consensus price target of $10.75 for the company and are expecting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 164 out of 254 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded shares of Select Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 31st.
Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Select Bancorp by 12.5% during the third quarter. State Street Corp now owns 315,282 shares of the bank’s stock worth $3,657,000 after buying an additional 35,005 shares during the period. Absher Wealth Management LLC purchased a new stake in shares of Select Bancorp during the fourth quarter worth approximately $238,000. Bank of America Corp DE increased its stake in shares of Select Bancorp by 54.6% during the fourth quarter. Bank of America Corp DE now owns 35,417 shares of the bank’s stock worth $436,000 after buying an additional 12,501 shares during the period. Atlas Principals LLC purchased a new stake in shares of Select Bancorp during the fourth quarter worth approximately $2,329,000. Finally, Barclays PLC increased its stake in shares of Select Bancorp by 92.4% during the fourth quarter. Barclays PLC now owns 16,075 shares of the bank’s stock worth $198,000 after buying an additional 7,722 shares during the period. Hedge funds and other institutional investors own 43.91% of the company’s stock.
NASDAQ SLCT traded up $0.15 during trading hours on Friday, reaching $7.97. The company had a trading volume of 2,571 shares, compared to its average volume of 53,607. The stock has a 50-day moving average of $7.29 and a 200 day moving average of $10.11. Select Bancorp has a 1-year low of $5.98 and a 1-year high of $12.47. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $134.51 million, a P/E ratio of 13.86 and a beta of 0.79.
Select Bancorp (NASDAQ:SLCT) last posted its earnings results on Wednesday, April 29th. The bank reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.09). The company had revenue of $12.90 million during the quarter, compared to analyst estimates of $13.75 million. Select Bancorp had a net margin of 16.86% and a return on equity of 5.12%. As a group, sell-side analysts predict that Select Bancorp will post 0.65 EPS for the current 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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