Select Bancorp, Inc. (NASDAQ:SLCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Select Bancorp Inc. is a bank holding company. It engages in providing personal and business banking products through its branches and the Internet. The Bank offers a range of banking services, including checking and savings accounts, commercial, consumer, mortgage and personal loans, and other associated financial services. Select Bancorp, Inc., formerly known as New Century Bancorp, Inc., is based in United States. “

Other research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. FIG Partners cut shares of Select Bancorp from an “outperform” rating to a “market perform” rating and set a $13.00 target price for the company. in a report on Monday, May 22nd.

Shares of Select Bancorp (SLCT) opened at 11.45 on Friday. The firm has a market capitalization of $133.53 million, a P/E ratio of 19.74 and a beta of 0.33. The stock’s 50 day moving average is $11.98 and its 200 day moving average is $11.43. Select Bancorp has a 1-year low of $7.78 and a 1-year high of $12.75.

Select Bancorp (NASDAQ:SLCT) last issued its earnings results on Tuesday, August 1st. The bank reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.07. Select Bancorp had a net margin of 17.31% and a return on equity of 6.49%. The company had revenue of $9.05 million during the quarter, compared to analyst estimates of $9.28 million. Equities analysts predict that Select Bancorp will post $0.64 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Select Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 82,953 shares of the bank’s stock valued at $1,013,000 after buying an additional 610 shares during the last quarter. Mendon Capital Advisors Corp boosted its position in shares of Select Bancorp by 2.2% in the first quarter. Mendon Capital Advisors Corp now owns 43,671 shares of the bank’s stock valued at $476,000 after buying an additional 930 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Select Bancorp by 5.3% in the first quarter. Dimensional Fund Advisors LP now owns 113,113 shares of the bank’s stock valued at $1,242,000 after buying an additional 5,717 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Select Bancorp during the fourth quarter valued at about $356,000. Finally, Kennedy Capital Management Inc. bought a new position in shares of Select Bancorp during the second quarter valued at about $499,000. Institutional investors and hedge funds own 14.72% of the company’s stock.

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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