SR Bancorp (NASDAQ:SRBK) Stock Breaks Below 50-Day Moving Average - Here's What Happened

Key Points

• SR Bancorp shares fell below their 50-day moving average, trading as low as $18.78 and last at $18.92, versus the average of $19.10.
• Analysts maintain a consensus Hold rating with an average price target of $19.00; recent rating changes included one downgrade from Buy to Hold and one upgrade from Sell to Hold.
• The company missed quarterly expectations, reporting $0.15 earnings per share versus $0.17 forecast and $8.9 million in revenue versus $9.0 million estimated.

SR Bancorp, Inc. (NASDAQ:SRBK - Get Free Report) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $19.10 and traded as low as $18.78. SR Bancorp shares last traded at $18.92, with a volume of 30,641 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SRBK. Weiss Ratings lowered SR Bancorp from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, October 29th. Wall Street Zen upgraded SR Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, October 3rd. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.00.

SR Bancorp Price Performance

The stock's 50-day simple moving average is $19.10 and its 200 day simple moving average is $18.44. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.36. The company has a market cap of $150.04 million, a price-to-earnings ratio of 37.10 and a beta of 0.58.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last announced its quarterly earnings results on Monday, October 26th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). The company had revenue of $8.90 million for the quarter, compared to analyst estimates of $9.00 million. SR Bancorp had a net margin of 6.95% and a return on equity of 1.82%.

SR Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. SR Bancorp's dividend payout ratio (DPR) is presently 47.06%.

Institutional Trading of SR Bancorp

Several institutional investors have recently added to or reduced their stakes in SRBK. BlackRock Inc. purchased a new position in shares of SR Bancorp during the second quarter worth $9,783,000. Renaissance Technologies LLC raised its holdings in shares of SR Bancorp by 0.6% in the 1st quarter. Renaissance Technologies LLC now owns 180,300 shares of the company's stock valued at $3,043,000 after buying an additional 1,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in SR Bancorp by 42.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 91,104 shares of the company's stock worth $1,538,000 after acquiring an additional 27,213 shares in the last quarter. Ancora Advisors LLC lifted its stake in SR Bancorp by 2.2% during the 2nd quarter. Ancora Advisors LLC now owns 48,600 shares of the company's stock worth $956,000 after acquiring an additional 1,050 shares in the last quarter. Finally, Arcus Capital Partners LLC lifted its stake in SR Bancorp by 3.7% during the 1st quarter. Arcus Capital Partners LLC now owns 41,920 shares of the company's stock worth $708,000 after acquiring an additional 1,485 shares in the last quarter. Institutional investors and hedge funds own 24.70% of the company's stock.

About SR Bancorp

SR Bancorp, Inc is the bank holding company for Somerset Hills Bank, a community bank headquartered in Bernardsville, New Jersey. The company provides banking and financial services to individuals, families, businesses and nonprofit organizations through its local banking operations.

Somerset Hills Bank offers deposit products such as checking, savings, money market and certificate of deposit accounts. Its lending activities include residential and commercial real estate loans, commercial and industrial financing, home equity loans and consumer loans.

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