Analysts Expect Select Bancorp Inc (NASDAQ:SLCT) to Post $0.20 Earnings Per Share

Shares of Select Bancorp Inc (NASDAQ:SLCT) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $13.50 for the company and are expecting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 176 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research lowered Select Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Select Bancorp by 2.8% during the second quarter. Vanguard Group Inc. now owns 866,009 shares of the bank’s stock valued at $9,907,000 after purchasing an additional 23,991 shares during the period. BlackRock Inc. grew its holdings in Select Bancorp by 11.1% during the second 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. RMB Capital Management LLC boosted its holdings in shares of Select Bancorp by 0.4% in the second quarter. RMB Capital Management LLC now owns 1,749,923 shares of the bank’s stock worth $20,019,000 after acquiring an additional 7,346 shares during the period. Clover Partners L.P. boosted its holdings in shares of Select Bancorp by 9.2% in the second 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, Northern Trust Corp boosted its holdings in shares of Select Bancorp by 3.7% in the second quarter. Northern Trust Corp now owns 171,399 shares of the bank’s stock worth $1,961,000 after acquiring an additional 6,037 shares during the period. 48.93% of the stock is owned by institutional investors and hedge funds.

NASDAQ SLCT traded down $0.15 on Thursday, hitting $11.45. 9,438 shares of the stock traded hands, compared to its average volume of 27,549. The business’s fifty day moving average is $10.99 and its two-hundred day moving average is $11.35. Select Bancorp has a 12 month low of $10.14 and a 12 month high of $12.91. The firm has a market capitalization of $214.63 million, a price-to-earnings ratio of 12.05 and a beta of 0.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.10 and a current ratio of 1.10.

Select Bancorp (NASDAQ:SLCT) last announced its quarterly earnings data on Friday, August 2nd. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. Select Bancorp had a return on equity of 7.35% and a net margin of 24.90%. The business had revenue of $13.03 million during the quarter, compared to analyst estimates of $12.93 million. Analysts expect that Select Bancorp 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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