Select Bancorp, Inc. (NASDAQ:SLCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 equities analysts have also issued research reports about the stock. ValuEngine raised shares of Select Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. FIG Partners lowered 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 (NASDAQ SLCT) traded down 1.66% during mid-day trading on Friday, reaching $11.26. 18,831 shares of the company’s stock were exchanged. The stock has a market capitalization of $131.31 million, a PE ratio of 19.41 and a beta of 0.33. Select Bancorp has a 1-year low of $7.78 and a 1-year high of $12.75. The firm’s 50-day moving average is $11.96 and its 200 day moving average is $11.44.

Select Bancorp (NASDAQ:SLCT) last posted its quarterly earnings data 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 firm had revenue of $9.05 million during the quarter, compared to analyst estimates of $9.28 million. Select Bancorp had a net margin of 17.31% and a return on equity of 6.44%. Analysts forecast that Select Bancorp will post $0.64 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the company. RMB Capital Management LLC raised its position in shares of Select Bancorp by 19.9% in the first quarter. RMB Capital Management LLC now owns 602,093 shares of the bank’s stock valued at $6,563,000 after buying an additional 99,863 shares during the period. Vanguard Group Inc. raised its position in shares of Select Bancorp by 36.9% in the second quarter. Vanguard Group Inc. now owns 202,655 shares of the bank’s stock valued at $2,476,000 after buying an additional 54,635 shares during the period. Kennedy Capital Management Inc. bought a new position in shares of Select Bancorp during the second quarter valued at approximately $499,000. Renaissance Technologies LLC bought a new position in shares of Select Bancorp during the fourth quarter valued at approximately $356,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Select Bancorp by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 107,396 shares of the bank’s stock valued at $1,058,000 after buying an additional 6,969 shares during the period. 14.72% of the stock is owned by hedge funds and other institutional investors.

About Select Bancorp

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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