Select Bancorp (SLCT) Downgraded to “Sell” at Zacks Investment Research

Select Bancorp (NASDAQ:SLCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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.

Select Bancorp (SLCT) traded up $0.19 during trading on Tuesday, reaching $13.45. The company had a trading volume of 17,500 shares, compared to its average volume of 10,654. The stock has a market capitalization of $156.86, a PE ratio of 23.19 and a beta of 0.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. Select Bancorp has a 12 month low of $10.58 and a 12 month high of $14.06.

In other news, Director Anthony Rand acquired 3,221 shares of Select Bancorp stock in a transaction that occurred on Monday, November 27th. The stock was bought 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 is accessible through this hyperlink. 14.21% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Select Bancorp by 36.9% during the second quarter. Vanguard Group Inc. now owns 202,655 shares of the bank’s stock valued at $2,476,000 after acquiring an additional 54,635 shares during the last quarter. Brightworth bought a new stake in Select Bancorp during the third quarter valued at about $362,000. Franklin Street Advisors Inc. NC bought a new stake in Select Bancorp during the fourth quarter valued at about $837,000. Dimensional Fund Advisors LP grew its holdings in Select Bancorp by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 115,629 shares of the bank’s stock valued at $1,413,000 after purchasing an additional 2,516 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in Select Bancorp during the second quarter valued at about $723,000. Institutional investors own 19.36% 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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