Brokerages Set $13.50 Price Target for Select Bancorp Inc (NASDAQ:SLCT)

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

Brokerages have set a 1-year consensus price target of $13.50 for the company and are anticipating that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 166 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research lowered shares of Select Bancorp from a “hold” rating to a “sell” rating in a report on Saturday.



NASDAQ:SLCT traded down $0.03 during trading hours on Wednesday, reaching $11.11. 204,100 shares of the company traded hands, compared to its average volume of 24,673. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10. The firm’s 50-day moving average is $10.96 and its 200-day moving average is $11.37. The stock has a market cap of $209.18 million, a P/E ratio of 11.69 and a beta of 0.35. Select Bancorp has a 1-year low of $10.14 and a 1-year high of $12.91.

Select Bancorp (NASDAQ:SLCT) last issued its quarterly earnings data on Friday, August 2nd. The bank reported $0.18 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The business had revenue of $13.03 million for the quarter, compared to the consensus estimate of $12.93 million. Select Bancorp had a return on equity of 7.35% and a net margin of 24.90%. As a group, research analysts predict that Select Bancorp will post 0.76 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Select Bancorp by 521.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,279 shares of the bank’s stock worth $37,000 after acquiring an additional 2,751 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Select Bancorp during the 1st quarter worth $101,000. Rhumbline Advisers lifted its stake in shares of Select Bancorp by 16.3% during the 1st quarter. Rhumbline Advisers now owns 18,995 shares of the bank’s stock worth $216,000 after purchasing an additional 2,663 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Select Bancorp by 11.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 39,034 shares of the bank’s stock worth $447,000 after purchasing an additional 3,974 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Select Bancorp by 98.8% during the fourth quarter. Bank of America Corp DE now owns 36,555 shares of the bank’s stock worth $453,000 after purchasing an additional 18,163 shares during the last quarter. 47.61% of the stock is owned by institutional investors and hedge funds.

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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