SR Bancorp (NASDAQ:SRBK) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded SR Bancorp to “Sell” from “Hold,” although Weiss Ratings maintained a “Buy (B-)” rating. MarketBeat’s overall consensus remains “Moderate Buy,” with an average price target of $19.00.
• SR Bancorp’s latest quarterly results slightly missed expectations, reporting earnings per share of $0.12 versus the $0.13 consensus estimate and revenue of $8.58 million versus $8.60 million expected.
• The stock opened at $19.62, near its 50-day average of $19.65, with a market capitalization of approximately $158.9 million. Institutional investors own 24.7% of the company, including a new $9.8 million position acquired by BlackRock.

SR Bancorp (NASDAQ:SRBK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SR Bancorp in a research report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.00.

SR Bancorp Price Performance

SR Bancorp stock opened at $19.62 on Friday. The firm has a fifty day moving average of $19.65 and a 200-day moving average of $18.68. SR Bancorp has a 52-week low of $14.33 and a 52-week high of $20.95. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $158.92 million, a P/E ratio of 43.60 and a beta of 0.55.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last posted its earnings results on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). SR Bancorp had a net margin of 6.47% and a return on equity of 1.61%. The business had revenue of $8.58 million for the quarter, compared to analyst estimates of $8.60 million.

Institutional Investors Weigh In On SR Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in SR Bancorp during the 2nd quarter worth $9,783,000. Saber Capital Managment LLC acquired a new stake in shares of SR Bancorp in the 4th quarter valued at about $4,270,000. Ancora Advisors LLC acquired a new stake in shares of SR Bancorp in the 2nd quarter valued at about $956,000. Dimensional Fund Advisors LP lifted its position in shares of SR Bancorp by 42.6% during the first quarter. Dimensional Fund Advisors LP now owns 91,104 shares of the company's stock worth $1,538,000 after purchasing an additional 27,213 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of SR Bancorp during the second quarter worth about $427,000. Hedge funds and other institutional investors own 24.70% of the company's stock.

About SR Bancorp

SR Bancorp, Inc is the holding company for Somerset Savings Bank, S.L.A., a community-oriented savings institution headquartered in Bound Brook, New Jersey. The bank serves individuals, families and businesses in communities primarily across central New Jersey.

Somerset Savings Bank provides deposit products, including checking, savings, money market and certificate of deposit accounts, along with residential mortgage loans, home equity financing, commercial real estate loans, business lending and consumer loans.

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