Select Bancorp (SLCT) Stock Rating Upgraded by Zacks Investment Research

Select Bancorp (NASDAQ:SLCT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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 research report on Sunday, December 31st.

Shares of Select Bancorp (SLCT) opened at $13.02 on Friday. The company has a market capitalization of $151.62, a P/E ratio of 22.45 and a beta of 0.31. Select Bancorp has a 52-week low of $10.58 and a 52-week high of $14.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01.

In other news, Director Anthony Rand bought 3,221 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $12.08 per share, for a total transaction of $38,909.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.21% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in 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 last quarter. Brightworth purchased a new stake in Select Bancorp in the 3rd quarter worth approximately $362,000. Dimensional Fund Advisors LP boosted its position in Select Bancorp by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 115,629 shares of the bank’s stock worth $1,413,000 after purchasing an additional 2,516 shares in the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in Select Bancorp in the 4th quarter worth approximately $837,000. Finally, Janus Henderson Group PLC purchased a new stake in Select Bancorp in the 2nd quarter worth approximately $723,000. Hedge funds and other institutional investors own 19.51% of the company’s stock.

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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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