Mendon Capital Advisors Corp Sells 5,699 Shares of Select Bancorp Inc (NASDAQ:SLCT)

Mendon Capital Advisors Corp lessened its stake in Select Bancorp Inc (NASDAQ:SLCT) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,882 shares of the bank’s stock after selling 5,699 shares during the period. Mendon Capital Advisors Corp’s holdings in Select Bancorp were worth $1,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Select Bancorp by 521.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,279 shares of the bank’s stock valued at $37,000 after buying an additional 2,751 shares during the period. SG Americas Securities LLC bought a new position in Select Bancorp during the first quarter worth about $101,000. Rhumbline Advisers lifted its stake in Select Bancorp by 16.3% during the first 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. Bank of America Corp DE lifted its stake in 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 period. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 period. Institutional investors and hedge funds own 47.61% of the company’s stock.

Separately, Zacks Investment Research cut shares of Select Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th.

SLCT traded down $0.17 during midday trading on Friday, reaching $10.95. 4,474 shares of the company’s stock were exchanged, compared to its average volume of 62,958. The firm has a market capitalization of $214.58 million, a price-to-earnings ratio of 11.58 and a beta of 0.35. 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 Inc has a one year low of $10.14 and a one year high of $12.91. The business has a 50-day simple moving average of $10.96 and a two-hundred day simple moving average of $11.37.

Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings results on Friday, August 2nd. The bank reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The firm had revenue of $13.03 million during the quarter, compared to analysts’ expectations of $12.93 million. Select Bancorp had a net margin of 24.90% and a return on equity of 7.35%. As a group, research analysts anticipate that Select Bancorp Inc will post 0.76 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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Institutional Ownership by Quarter for Select Bancorp (NASDAQ:SLCT)

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