Thomson Horstmann & Bryant Inc. Invests $5.87 Million in Select Bancorp Inc (SLCT)
Thomson Horstmann & Bryant Inc. acquired a new stake in shares of Select Bancorp Inc (NASDAQ:SLCT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 473,260 shares of the bank’s stock, valued at approximately $5,868,000.
Several other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in Select Bancorp by 58.9% during the third quarter. Alliancebernstein L.P. now owns 590,858 shares of the bank’s stock valued at $7,327,000 after buying an additional 218,998 shares during the period. Seidman Lawrence B bought a new position in shares of Select Bancorp in the third quarter worth approximately $1,033,000. Rhumbline Advisers bought a new position in shares of Select Bancorp in the third quarter worth approximately $132,000. Salzhauer Michael boosted its position in shares of Select Bancorp by 66.1% in the third quarter. Salzhauer Michael now owns 50,270 shares of the bank’s stock worth $623,000 after purchasing an additional 20,000 shares during the period. Finally, JCSD Capital LLC bought a new position in shares of Select Bancorp in the third quarter worth approximately $6,045,000. Hedge funds and other institutional investors own 49.04% of the company’s stock.
In related news, Director Gerald W. Hayes, Jr. bought 2,395 shares of the stock in a transaction dated Wednesday, September 26th. The shares were purchased at an average price of $12.50 per share, with a total value of $29,937.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Alan Jeffries bought 2,500 shares of the stock in a transaction dated Thursday, August 30th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $30,000.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $30,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,895 shares of company stock valued at $71,938. Company insiders own 14.02% of the company’s stock.
Select Bancorp (NASDAQ:SLCT) last posted its quarterly earnings results on Monday, October 22nd. The bank reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.07. The business had revenue of $12.92 million during the quarter, compared to analyst estimates of $13.61 million. Select Bancorp had a net margin of 12.66% and a return on equity of 7.88%. Equities research analysts anticipate that Select Bancorp Inc will post 0.95 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on SLCT shares. FIG Partners upgraded shares of Select Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 4th. ValuEngine upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday, November 7th.
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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 and NOW accounts, savings accounts, and time deposits.
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