Patriot Financial Partners GP LP purchased a new stake in Select Bancorp Inc (NASDAQ:SLCT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,305 shares of the bank’s stock, valued at approximately $143,000. Select Bancorp comprises 0.1% of Patriot Financial Partners GP LP’s holdings, making the stock its 17th largest position. Patriot Financial Partners GP LP owned approximately 0.07% of Select Bancorp as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in SLCT. BlackRock Inc. boosted its holdings in Select Bancorp by 11.1% in the 2nd quarter. BlackRock Inc. now owns 799,709 shares of the bank’s stock valued at $9,148,000 after purchasing an additional 79,854 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Select Bancorp during the 2nd quarter worth approximately $701,000. Vanguard Group Inc. lifted its holdings in shares of Select Bancorp by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 866,009 shares of the bank’s stock worth $9,907,000 after acquiring an additional 23,991 shares during the period. Clover Partners L.P. lifted its holdings in shares of Select Bancorp by 9.2% during the 2nd quarter. Clover Partners L.P. now owns 177,181 shares of the bank’s stock worth $2,027,000 after acquiring an additional 15,000 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Select Bancorp by 19.2% during the 2nd quarter. Renaissance Technologies LLC now owns 90,714 shares of the bank’s stock worth $1,038,000 after acquiring an additional 14,614 shares during the period. Institutional investors and hedge funds own 48.87% of the company’s stock.
Separately, Zacks Investment Research raised shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday.
Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.03). The business had revenue of $13.32 million during the quarter, compared to the consensus estimate of $13.80 million. Select Bancorp had a return on equity of 6.82% and a net margin of 22.79%. As a group, equities analysts forecast that Select Bancorp Inc will post 0.77 EPS for the current year.
Select Bancorp 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.
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