Zacks: Brokerages Set $14.00 Target Price for Select Bancorp Inc (NASDAQ:SLCT)
Select Bancorp Inc (NASDAQ:SLCT) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, 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 predicting that the company will post $0.18 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Select Bancorp an industry rank of 108 out of 256 based on the ratings given to its competitors.
Several analysts have recently issued reports on SLCT shares. Zacks Investment Research cut Select Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. ValuEngine cut Select Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd.
A number of large investors have recently added to or reduced their stakes in SLCT. Vanguard Group Inc. raised its stake in Select Bancorp by 39.1% in the 3rd quarter. Vanguard Group Inc. now owns 595,454 shares of the bank’s stock worth $7,384,000 after purchasing an additional 167,235 shares in the last quarter. Vanguard Group Inc raised its stake in Select Bancorp by 39.1% in the 3rd quarter. Vanguard Group Inc now owns 595,454 shares of the bank’s stock worth $7,384,000 after purchasing an additional 167,235 shares in the last quarter. Cutler Capital Management LLC raised its stake in Select Bancorp by 2.4% in the 4th quarter. Cutler Capital Management LLC now owns 64,000 shares of the bank’s stock worth $792,000 after purchasing an additional 1,500 shares in the last quarter. Rhumbline Advisers raised its stake in Select Bancorp by 53.7% in the 4th quarter. Rhumbline Advisers now owns 16,332 shares of the bank’s stock worth $202,000 after purchasing an additional 5,704 shares in the last quarter. Finally, Capital Investment Advisory Services LLC acquired a new stake in Select Bancorp in the 4th quarter worth about $33,000. Institutional investors own 47.62% of the company’s stock.
Shares of SLCT traded up $0.07 during mid-day trading on Monday, hitting $11.23. 5,024 shares of the stock were exchanged, compared to its average volume of 13,925. The stock has a market capitalization of $215.68 million, a price-to-earnings ratio of 11.82 and a beta of 0.34. Select Bancorp has a 52-week low of $10.14 and a 52-week high of $14.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.10 and a quick ratio of 1.10.
Select Bancorp (NASDAQ:SLCT) last issued 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 firm had revenue of $12.65 million for 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%. On average, sell-side analysts expect that Select Bancorp will post 0.77 earnings per share for the current 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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