Select Bancorp Inc (SLCT) Expected to Earn FY2018 Earnings of $0.95 Per Share

Select Bancorp Inc (NASDAQ:SLCT) – Stock analysts at FIG Partners upped their FY2018 EPS estimates for shares of Select Bancorp in a report issued on Monday, October 29th. FIG Partners analyst C. Marinac now forecasts that the bank will post earnings per share of $0.95 for the year, up from their prior estimate of $0.88. FIG Partners currently 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 raised shares of Select Bancorp from a “hold” rating to a “buy” rating in a research report on Monday.



NASDAQ SLCT opened at $12.32 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.41. The stock has a market cap of $170.97 million, a PE ratio of 20.20 and a beta of 0.17. Select Bancorp has a 52-week low of $11.50 and a 52-week high of $14.25.

Select Bancorp (NASDAQ:SLCT) last posted its earnings results on Monday, October 22nd. The bank reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. The company had revenue of $12.92 million during the quarter, compared to analysts’ expectations of $13.61 million. Select Bancorp had a net margin of 12.66% and a return on equity of 8.83%.

A number of large investors have recently added to or reduced their stakes in SLCT. PNC Financial Services Group Inc. bought a new position in Select Bancorp during the second quarter worth about $193,000. Pwmco LLC bought a new position in Select Bancorp in the 2nd quarter valued at about $214,000. Schwab Charles Investment Management Inc. bought a new position in Select Bancorp in the 2nd quarter valued at about $293,000. Franklin Street Advisors Inc. NC bought a new position in Select Bancorp in the 2nd quarter valued at about $644,000. Finally, Cutler Capital Management LLC bought a new position in Select Bancorp in the 3rd quarter valued at about $775,000. 32.15% of the stock is currently owned by institutional investors and hedge funds.

In other Select Bancorp news, CFO Mark Alan Jeffries purchased 2,500 shares of the stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average cost of $12.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares in the company, valued at $30,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald W. Hayes, Jr. purchased 2,395 shares of the stock in a transaction that occurred on Wednesday, September 26th. The shares were acquired at an average cost of $12.50 per share, for a total transaction of $29,937.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 5,895 shares of company stock worth $71,938. 14.02% of the stock is owned by 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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Earnings History and Estimates for Select Bancorp (NASDAQ:SLCT)

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