Eidelman Virant Capital Raises Holdings in Select Bancorp Inc (SLCT)

Eidelman Virant Capital raised its position in Select Bancorp Inc (NASDAQ:SLCT) by 9.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,248 shares of the bank’s stock after buying an additional 7,806 shares during the quarter. Eidelman Virant Capital owned 0.65% of Select Bancorp worth $1,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Select Bancorp by 8,239.0% during the 2nd quarter. BlackRock Inc. now owns 485,499 shares of the bank’s stock worth $6,541,000 after purchasing an additional 479,677 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Select Bancorp by 19.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 169,820 shares of the bank’s stock worth $2,288,000 after purchasing an additional 27,768 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Select Bancorp by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,395 shares of the bank’s stock worth $2,026,000 after purchasing an additional 25,335 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Select Bancorp during the 1st quarter worth $1,474,000. Finally, Northern Trust Corp acquired a new stake in shares of Select Bancorp during the 2nd quarter worth $1,390,000. 31.65% of the stock is currently owned by hedge funds and other institutional investors.

Separately, FIG Partners raised Select Bancorp from a “market perform” rating to an “outperform” rating in a report on Tuesday, September 4th.

Shares of SLCT traded up $0.03 during trading hours on Wednesday, hitting $12.19. 400 shares of the company were exchanged, compared to its average volume of 31,913. The firm has a market cap of $173.91 million, a P/E ratio of 19.93 and a beta of 0.18. Select Bancorp Inc has a fifty-two week low of $11.44 and a fifty-two week high of $14.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.05.

Select Bancorp (NASDAQ:SLCT) last released its earnings results on Wednesday, July 25th. The bank reported $0.22 earnings per share (EPS) for the quarter. The company had revenue of $13.16 million for the quarter. Select Bancorp had a return on equity of 7.37% and a net margin of 8.96%. On average, research analysts predict that Select Bancorp Inc will post 0.88 earnings per share for the current fiscal year.

In other Select Bancorp news, Director Gerald W. Hayes, Jr. acquired 2,395 shares of Select Bancorp stock in a transaction that occurred on Wednesday, September 26th. The shares were acquired at an average cost of $12.50 per share, with a total value of $29,937.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Alan Jeffries acquired 2,500 shares of Select Bancorp stock in a transaction that occurred on Thursday, August 30th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $30,000. The disclosure for this purchase can be found here. Insiders purchased 5,895 shares of company stock worth $71,938 over the last ninety days. 14.02% of the stock is currently owned by insiders.

About Select Bancorp

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 and NOW accounts, savings accounts, and time deposits.

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Institutional Ownership by Quarter for Select Bancorp (NASDAQ:SLCT)

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