Select Bancorp (SLCT) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Select Bancorp (NASDAQ:SLCT) from a sell rating to a hold rating in a research report released on Saturday.

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. “

Separately, ValuEngine upgraded Select Bancorp from a hold rating to a buy rating in a report on Sunday, December 31st.

Shares of Select Bancorp (NASDAQ SLCT) opened at $13.02 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. Select Bancorp has a twelve month low of $10.58 and a twelve month high of $14.06. The stock has a market capitalization of $153.83, a PE ratio of 22.74 and a beta of 0.19.

In other news, Director Anthony Rand acquired 3,221 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were bought at an average cost of $12.08 per share, for a total transaction of $38,909.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 14.21% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Select Bancorp by 36.9% in the 2nd quarter. Vanguard Group Inc. now owns 202,655 shares of the bank’s stock worth $2,476,000 after buying an additional 54,635 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Select Bancorp by 5.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 122,399 shares of the bank’s stock worth $1,433,000 after buying an additional 6,770 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Select Bancorp by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 89,235 shares of the bank’s stock worth $1,045,000 after buying an additional 6,282 shares during the last quarter. Franklin Street Advisors Inc. NC acquired a new position in shares of Select Bancorp during the 4th quarter worth approximately $837,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Select Bancorp by 17.6% during the 4th quarter. Wells Fargo & Company MN now owns 63,169 shares of the bank’s stock worth $799,000 after purchasing an additional 9,448 shares during the last quarter. Institutional investors own 19.51% of the company’s stock.

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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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