Franklin Street Advisors Inc. NC Purchases New Holdings in Select Bancorp, Inc. (SLCT)
Franklin Street Advisors Inc. NC purchased a new position in shares of Select Bancorp, Inc. (NASDAQ:SLCT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,204 shares of the bank’s stock, valued at approximately $837,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLCT. ZPR Investment Management purchased a new position in shares of Select Bancorp during the 2nd quarter worth $131,000. Brightworth purchased a new position in shares of Select Bancorp during the 3rd quarter worth $362,000. Kennedy Capital Management Inc. purchased a new position in shares of Select Bancorp during the 2nd quarter worth $499,000. ELCO Management Co. LLC grew its holdings in shares of Select Bancorp by 6.8% during the 2nd quarter. ELCO Management Co. LLC now owns 46,644 shares of the bank’s stock worth $570,000 after purchasing an additional 2,973 shares during the period. Finally, Janus Henderson Group PLC purchased a new position in shares of Select Bancorp during the 2nd quarter worth $723,000. Institutional investors and hedge funds own 18.94% of the company’s stock.
In other news, Director Anthony Rand bought 3,221 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $12.08 per share, with a total value of $38,909.68. The transaction was disclosed in a filing with the SEC, which is available at this link. 14.21% of the stock is currently owned by corporate insiders.
Select Bancorp, Inc. (NASDAQ SLCT) traded up $0.02 on Wednesday, reaching $12.69. The company had a trading volume of 5,900 shares, compared to its average volume of 9,017. Select Bancorp, Inc. has a 1 year low of $9.69 and a 1 year high of $12.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a market cap of $146.25, a price-to-earnings ratio of 21.88 and a beta of 0.27.
Select Bancorp (NASDAQ:SLCT) last posted its earnings results on Friday, November 3rd. The bank reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). Select Bancorp had a return on equity of 6.38% and a net margin of 16.86%. The firm had revenue of $9.46 million for the quarter, compared to analyst estimates of $9.54 million. research analysts anticipate that Select Bancorp, Inc. will post 0.74 earnings per share for the current year.
Separately, ValuEngine upgraded Select Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st.
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Select Bancorp Company Profile
Select Bancorp, Inc is the bank holding company for Select Bank & Trust Company (the Bank). The Bank is a commercial bank. The Bank provides commercial and retail financial services to customers located in its market areas. The Bank offers a range of banking services, including checking and savings accounts, commercial, consumer, mortgage and personal loans, and other associated financial services.
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