Hovde Group Forecasts Strong Price Appreciation for SR Bancorp (NASDAQ:SRBK) Stock

Key Points

• Hovde Group raised its price target on SR Bancorp from $18 to $19 and kept a "market perform" rating, while Weiss Ratings upgraded the stock to "buy (b-)"; the consensus target of $19 implies about a 2.1% upside from the prior close.
• SR Bancorp beat Q1 EPS estimates ($0.11 vs. $0.10) but slightly missed on revenue; the company has a market cap of $155.2M and a PE of 44.3, trading near its 1-year high.
• Insiders and institutions are increasing exposure — the CFO bought 3,000 shares at $16.40 (a 30% increase in his stake), insiders own 7.82% and institutional ownership is 24.7%, including a $4.27M new position by Saber Capital.

SR Bancorp (NASDAQ:SRBK - Get Free Report) had its price objective boosted by equities research analysts at Hovde Group from $18.00 to $19.00 in a note issued to investors on Monday. The brokerage currently has a "market perform" rating on the stock. Hovde Group's price objective points to a potential upside of 2.10% from the company's previous close.

Separately, Weiss Ratings upgraded SR Bancorp from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.00.

SR Bancorp Price Performance

SR Bancorp stock opened at $18.61 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.04. SR Bancorp has a 1-year low of $12.30 and a 1-year high of $19.61. The company has a market cap of $155.21 million, a PE ratio of 44.31 and a beta of 0.64. The stock's 50 day moving average price is $17.35 and its 200 day moving average price is $16.46.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $8.36 million during the quarter, compared to analysts' expectations of $8.50 million. SR Bancorp had a return on equity of 1.40% and a net margin of 6.39%.

Insider Buying and Selling at SR Bancorp

In related news, CFO Harris M. Faqueri purchased 3,000 shares of the business's stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $16.40 per share, with a total value of $49,200.00. Following the completion of the acquisition, the chief financial officer directly owned 13,000 shares in the company, valued at $213,200. The trade was a 30.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 5,320 shares of company stock valued at $87,716 over the last ninety days. Insiders own 7.82% of the company's stock.

Hedge Funds Weigh In On SR Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management acquired a new position in SR Bancorp in the first quarter valued at $333,000. Covalent Partners LLC increased its stake in SR Bancorp by 49.0% in the fourth quarter. Covalent Partners LLC now owns 60,000 shares of the company's stock valued at $944,000 after purchasing an additional 19,740 shares during the last quarter. Russell Investments Group Ltd. increased its stake in SR Bancorp by 164.4% in the fourth quarter. Russell Investments Group Ltd. now owns 9,466 shares of the company's stock valued at $149,000 after purchasing an additional 5,886 shares during the last quarter. Panagora Asset Management Inc. increased its stake in SR Bancorp by 16.2% in the fourth quarter. Panagora Asset Management Inc. now owns 28,404 shares of the company's stock valued at $447,000 after purchasing an additional 3,950 shares during the last quarter. Finally, Saber Capital Managment LLC acquired a new position in SR Bancorp in the fourth quarter valued at $4,270,000. 24.70% of the stock is currently owned by institutional investors and hedge funds.

About SR Bancorp

SR Bancorp, Inc is a bank holding company that provides a broad array of banking and financial services through its wholly owned subsidiary. The firm focuses on serving community markets and maintaining close relationships with individuals, small businesses and local institutions.

Its product suite includes traditional deposit accounts such as checking and savings, certificates of deposit and money market accounts. On the lending side, SR Bancorp offers consumer, residential mortgage and commercial loans, as well as specialized lending solutions for small and mid-sized businesses.

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