SR Bancorp (NASDAQ:SRBK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of SR Bancorp (NASDAQ:SRBK - Free Report) from a sell rating to a hold rating in a research report report published on Thursday morning.

SR Bancorp Price Performance

SRBK traded down $0.11 during trading on Thursday, reaching $13.13. The company's stock had a trading volume of 12,500 shares, compared to its average volume of 31,567. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $12.11. SR Bancorp has a 1 year low of $8.94 and a 1 year high of $13.65. The company has a market cap of $118.09 million, a price-to-earnings ratio of 218.95 and a beta of 0.70.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter. The business had revenue of $7.73 million for the quarter. SR Bancorp had a net margin of 0.95% and a return on equity of 0.21%.

SR Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, March 31st. SR Bancorp's payout ratio is presently 333.33%.

Insider Activity

In other news, insider David M. Orbach purchased 2,500 shares of SR Bancorp stock in a transaction dated Monday, May 19th. The shares were purchased at an average price of $13.19 per share, with a total value of $32,975.00. Following the transaction, the insider now owns 7,500 shares in the company, valued at $98,925. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 20,975 shares of company stock valued at $254,909. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of SR Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mink Brook Asset Management LLC raised its position in SR Bancorp by 27.7% in the first quarter. Mink Brook Asset Management LLC now owns 362,952 shares of the company's stock valued at $4,330,000 after purchasing an additional 78,811 shares during the period. Arcus Capital Partners LLC purchased a new stake in SR Bancorp in the first quarter valued at approximately $483,000. Jane Street Group LLC purchased a new stake in SR Bancorp in the first quarter valued at approximately $263,000. Finally, Northern Trust Corp raised its position in SR Bancorp by 34.3% in the fourth quarter. Northern Trust Corp now owns 18,592 shares of the company's stock valued at $221,000 after purchasing an additional 4,748 shares during the period. Hedge funds and other institutional investors own 24.70% of the company's stock.

About SR Bancorp

SR Bancorp, Inc operates as the holding company for Somerset Regal Bank that provides customary retail and commercial banking services to individuals, businesses, and local municipalities in the communities of Somerset, Middlesex, Hunterdon, and Essex counties in New Jersey. It offers deposit instruments, including noninterest-bearing demand deposits, interest-bearing demand accounts, savings accounts, money market accounts, and certificates of deposit.