SR Bancorp (NASDAQ:SRBK) Shares Up 0.3% - Here's Why

Key Points

• SR Bancorp's stock price increased by 0.3%, trading at $13.96 after reaching a high of $14.07, although trading volume decreased by 28% from its average.
• Wall Street Zen upgraded SR Bancorp's rating from "sell" to "hold", signaling a potential positive shift in market outlook.
• The company reported $0.06 EPS in its latest quarterly earnings, with a revenue of $7.97 million and a net margin of 7.70%.

Shares of SR Bancorp, Inc. (NASDAQ:SRBK - Get Free Report) traded up 0.3% on Friday . The company traded as high as $14.07 and last traded at $13.96. 38,602 shares were traded during trading, a decline of 28% from the average session volume of 53,690 shares. The stock had previously closed at $13.92.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of SR Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday.

SR Bancorp Price Performance

The stock has a market cap of $126.77 million, a P/E ratio of 32.07 and a beta of 0.59. The company's fifty day simple moving average is $13.62 and its 200-day simple moving average is $12.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.06 earnings per share (EPS) for the quarter. SR Bancorp had a return on equity of 1.74% and a net margin of 7.70%. The firm had revenue of $7.97 million for the quarter.

SR Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. SR Bancorp's dividend payout ratio is currently 45.45%.

Insider Buying and Selling at SR Bancorp

In related news, CEO William P. Taylor purchased 2,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the completion of the purchase, the chief executive officer owned 72,838 shares in the company, valued at approximately $946,894. This represents a 2.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David M. Orbach purchased 5,000 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was bought at an average cost of $13.19 per share, with a total value of $65,950.00. Following the purchase, the insider owned 193,032 shares of the company's stock, valued at approximately $2,546,092.08. This trade represents a 2.66% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,500 shares of company stock valued at $137,315. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SR Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Mink Brook Asset Management LLC boosted 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 worth $4,330,000 after purchasing an additional 78,811 shares during the last quarter. Arcus Capital Partners LLC bought a new stake in shares of SR Bancorp in the first quarter valued at $483,000. Pekin Hardy Strauss Inc. bought a new stake in shares of SR Bancorp in the second quarter valued at $392,000. Jane Street Group LLC bought a new stake in shares of SR Bancorp in the first quarter valued at $263,000. Finally, Northern Trust Corp raised its stake in shares of 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 buying an additional 4,748 shares during the period. Institutional investors and hedge funds own 24.70% of the company's stock.

SR Bancorp Company Profile

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.