Patriot Financial Partners GP LP bought a new position in Select Bancorp Inc (NASDAQ:SLCT) during the third quarter, Holdings Channel reports. The fund bought 12,305 shares of the bank’s stock, valued at approximately $143,000. Select Bancorp makes up 0.1% of Patriot Financial Partners GP LP’s portfolio, making the stock its 17th biggest holding.
Several other large investors have also added to or reduced their stakes in SLCT. Russell Investments Group Ltd. purchased a new stake in shares of Select Bancorp in the 2nd quarter worth about $701,000. Charles Schwab Investment Management Inc. lifted its stake in Select Bancorp by 11.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 39,034 shares of the bank’s stock valued at $447,000 after acquiring an additional 3,974 shares during the period. Bank of New York Mellon Corp lifted its stake in Select Bancorp by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 188,085 shares of the bank’s stock valued at $2,152,000 after acquiring an additional 3,740 shares during the period. Renaissance Technologies LLC lifted its stake in Select Bancorp by 19.2% during the 2nd quarter. Renaissance Technologies LLC now owns 90,714 shares of the bank’s stock valued at $1,038,000 after acquiring an additional 14,614 shares during the period. Finally, Northern Trust Corp lifted its stake in Select Bancorp by 3.7% during the 2nd quarter. Northern Trust Corp now owns 171,399 shares of the bank’s stock valued at $1,961,000 after acquiring an additional 6,037 shares during the period. 48.87% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research upgraded shares of Select Bancorp from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday.
SLCT traded down $0.08 during midday trading on Friday, hitting $11.80. 11,300 shares of the company traded hands, compared to its average volume of 27,093. The firm has a market capitalization of $222.69 million, a PE ratio of 12.42 and a beta of 0.37. Select Bancorp Inc has a 52 week low of $10.14 and a 52 week high of $12.91. The company’s 50-day moving average is $11.36 and its 200 day moving average is $11.31. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.31.
Select Bancorp (NASDAQ:SLCT) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $13.32 million for the quarter, compared to analyst estimates of $13.80 million. Select Bancorp had a return on equity of 6.82% and a net margin of 22.79%. On average, sell-side analysts predict that Select Bancorp Inc will post 0.77 earnings per share for the current fiscal year.
Select Bancorp Profile
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 deposit and NOW accounts, savings accounts, and time deposits, as well as certificates of deposit.
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