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

Brokerages have set a twelve-month consensus target price of $10.75 for the company and are forecasting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also given Select Bancorp an industry rank of 181 out of 254 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Select Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, March 31st.

In other Select Bancorp news, CEO William L. Hedgepeth purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were acquired at an average price of $7.67 per share, for a total transaction of $38,350.00. Following the acquisition, the chief executive officer now owns 41,967 shares of the company’s stock, valued at $321,886.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 9,144 shares of company stock worth $66,787 in the last 90 days. 15.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fourthstone LLC acquired a new stake in Select Bancorp in the 1st quarter worth $2,793,000. Atlas Principals LLC acquired a new stake in Select Bancorp in the 4th quarter worth $2,329,000. JPMorgan Chase & Co. grew its position in Select Bancorp by 692.4% in the 1st quarter. JPMorgan Chase & Co. now owns 168,955 shares of the bank’s stock worth $1,289,000 after purchasing an additional 147,632 shares during the last quarter. Wellington Management Group LLP grew its position in Select Bancorp by 54.0% in the 1st quarter. Wellington Management Group LLP now owns 216,129 shares of the bank’s stock worth $1,649,000 after purchasing an additional 75,797 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Select Bancorp in the 1st quarter worth $345,000. Hedge funds and other institutional investors own 41.97% of the company’s stock.

Select Bancorp stock opened at $7.30 on Friday. The company has a 50 day moving average price of $7.27 and a 200 day moving average price of $10.21. Select Bancorp has a 52 week low of $5.98 and a 52 week high of $12.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.09 and a current ratio of 1.10. The firm has a market capitalization of $131.63 million, a price-to-earnings ratio of 12.81 and a beta of 0.79.

Select Bancorp (NASDAQ:SLCT) last released its earnings results on Wednesday, April 29th. The bank reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.09). Select Bancorp had a return on equity of 5.12% and a net margin of 16.86%. The company had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $13.75 million. Equities analysts forecast that Select Bancorp will post 0.65 earnings per share for the current fiscal year.

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.

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