Select Bancorp Inc (SLCT) Given $14.75 Consensus Target Price by Analysts

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Select Bancorp Inc (NASDAQ:SLCT) has received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating. Select Bancorp’s rating score has improved by 66.7% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokers have set a 12 month consensus target price of $14.75 for the company and are forecasting that the company will post $0.20 EPS for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 120 out of 257 based on the ratings given to related companies.

Several equities analysts have recently weighed in on SLCT shares. FIG Partners upgraded shares of Select Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 4th. ValuEngine upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday.

In other Select Bancorp news, CFO Mark Alan Jeffries acquired 2,500 shares of the stock in a transaction dated Thursday, August 30th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $30,000.00. Following the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $30,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Gerald W. Hayes, Jr. acquired 2,395 shares of the stock in a transaction dated Wednesday, September 26th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $29,937.50. The disclosure for this purchase can be found here. Insiders bought a total of 5,895 shares of company stock worth $71,938 in the last quarter. Company insiders own 14.02% of the company’s stock.

Several large investors have recently modified their holdings of SLCT. Millennium Management LLC bought a new position in shares of Select Bancorp in the 1st quarter worth approximately $1,474,000. Franklin Street Advisors Inc. NC bought a new stake in Select Bancorp during the 2nd quarter worth approximately $644,000. Pwmco LLC bought a new stake in Select Bancorp during the 2nd quarter worth approximately $214,000. Bank of New York Mellon Corp raised its stake in Select Bancorp by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 169,820 shares of the bank’s stock worth $2,288,000 after acquiring an additional 27,768 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new stake in Select Bancorp during the 2nd quarter worth approximately $293,000. Hedge funds and other institutional investors own 32.07% of the company’s stock.

SLCT traded down $0.24 during midday trading on Friday, hitting $12.09. 25,309 shares of the company traded hands, compared to its average volume of 50,305. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $171.67 million, a P/E ratio of 19.82 and a beta of 0.21. Select Bancorp has a 52 week low of $11.50 and a 52 week high of $14.25.

Select Bancorp (NASDAQ:SLCT) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.07. Select Bancorp had a net margin of 12.66% and a return on equity of 8.83%. The firm had revenue of $12.92 million for the quarter, compared to analysts’ expectations of $13.61 million. Research analysts forecast that Select Bancorp will post 0.95 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 and NOW accounts, savings accounts, and time deposits.

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