Shares of Select Bancorp Inc (NASDAQ:SLCT) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Analysts have set a 1-year consensus price objective of $14.00 for the company and are expecting that the company will post $0.18 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 88 out of 256 based on the ratings given to its competitors.
Several research analysts have issued reports on SLCT shares. ValuEngine upgraded Select Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research cut Select Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 7th.
Select Bancorp (NASDAQ:SLCT) last released its quarterly earnings data on Tuesday, April 30th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.03). The business had revenue of $12.65 million during the quarter, compared to analysts’ expectations of $13.14 million. Select Bancorp had a return on equity of 7.91% and a net margin of 24.54%. Sell-side analysts anticipate that Select Bancorp will post 0.77 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its holdings in 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 purchasing an additional 2,751 shares during the last quarter. Citigroup Inc. grew its holdings in Select Bancorp by 28.5% in the fourth quarter. Citigroup Inc. now owns 3,972 shares of the bank’s stock valued at $50,000 after purchasing an additional 881 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Select Bancorp in the fourth quarter valued at $54,000. SG Americas Securities LLC acquired a new stake in Select Bancorp in the first quarter valued at $101,000. Finally, American International Group Inc. grew its holdings in Select Bancorp by 36.7% in the fourth quarter. American International Group Inc. now owns 10,198 shares of the bank’s stock valued at $126,000 after purchasing an additional 2,736 shares during the last quarter. 47.62% of the stock is currently owned by institutional investors.
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 deposit and NOW accounts, savings accounts, and time deposits, as well as certificates of deposit.
Recommended Story: How to start trading in the forex market?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Select Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Select Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.