Alliancebernstein L.P. reduced its position in shares of Select Bancorp, Inc. (NASDAQ:SLCT) by 22.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,124 shares of the bank’s stock after selling 25,762 shares during the period. Alliancebernstein L.P. owned 0.76% of Select Bancorp worth $974,000 as of its most recent filing with the SEC.
Separately, Renaissance Technologies LLC purchased a new position in shares of Select Bancorp during the fourth quarter worth approximately $356,000. Institutional investors and hedge funds own 14.73% of the company’s stock.
Shares of Select Bancorp, Inc. (NASDAQ:SLCT) opened at 11.46 on Friday. The stock’s 50 day moving average is $11.89 and its 200-day moving average is $11.48. The firm has a market cap of $133.65 million, a PE ratio of 19.76 and a beta of 0.33. Select Bancorp, Inc. has a 1-year low of $7.78 and a 1-year high of $12.75.
Select Bancorp (NASDAQ:SLCT) last announced its earnings results on Tuesday, August 1st. The bank reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.07. The company had revenue of $9.05 million during the quarter, compared to analysts’ expectations of $9.28 million. Select Bancorp had a net margin of 17.31% and a return on equity of 6.44%. Analysts expect that Select Bancorp, Inc. will post $0.64 earnings per share for the current year.
SLCT has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, May 24th. ValuEngine raised shares of Select Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, FIG Partners downgraded shares of Select Bancorp from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a research report on Monday, May 22nd.
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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