SR Bancorp (NASDAQ:SRBK) Stock Price Up 0.7% - What's Next?

Key Points

• SR Bancorp shares rose 0.7% to $19.28, with trading volume well below average at 17,771 shares versus the normal 36,329. The stock traded as high as $19.36 during the session.
• Analyst sentiment is mixed but generally constructive, with a consensus rating of Moderate Buy and a consensus target price of $19.00. Recent updates included a price-target increase from Hovde Group and a rating upgrade from Wall Street Zen.
• The company recently raised its quarterly dividend to $0.06 per share from $0.05 and authorized a buyback plan of up to 9.9% of its stock. SR Bancorp also beat EPS expectations in its latest quarter, reporting $0.11 per share versus the $0.10 estimate.

SR Bancorp, Inc. (NASDAQ:SRBK - Get Free Report)'s share price was up 0.7% on Tuesday . The company traded as high as $19.36 and last traded at $19.28. 17,771 shares changed hands during trading, a decline of 51% from the average daily volume of 36,329 shares. The stock had previously closed at $19.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SRBK shares. Hovde Group raised their price target on SR Bancorp from $18.00 to $19.00 and gave the company a "market perform" rating in a research report on Monday, May 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of SR Bancorp in a research report on Monday, June 29th. Finally, Wall Street Zen upgraded SR Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

SR Bancorp Price Performance

The stock's 50-day moving average is $18.83 and its 200-day moving average is $17.69. The firm has a market cap of $156.17 million, a P/E ratio of 45.91 and a beta of 0.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $8.36 million during the quarter, compared to the consensus estimate of $8.50 million. SR Bancorp had a net margin of 6.39% and a return on equity of 1.41%.

SR Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, June 30th. This is a boost from SR Bancorp's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. SR Bancorp's dividend payout ratio is 57.14%.

SR Bancorp announced that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase 801,320,000,000 shares. This repurchase authorization authorizes the company to reacquire up to 9.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On SR Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of SR Bancorp by 6.3% in the fourth quarter. Barclays PLC now owns 11,601 shares of the company's stock valued at $183,000 after purchasing an additional 688 shares in the last quarter. Renaissance Technologies LLC boosted its stake in SR Bancorp by 0.6% during the first quarter. Renaissance Technologies LLC now owns 180,300 shares of the company's stock worth $3,043,000 after buying an additional 1,000 shares in the last quarter. Nuveen LLC increased its holdings in SR Bancorp by 5.3% in the 4th quarter. Nuveen LLC now owns 21,051 shares of the company's stock valued at $331,000 after buying an additional 1,065 shares during the period. BNP Paribas Financial Markets increased its holdings in SR Bancorp by 142.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company's stock valued at $36,000 after buying an additional 1,381 shares during the period. Finally, Arcus Capital Partners LLC raised its stake in shares of SR Bancorp by 3.7% in the 1st quarter. Arcus Capital Partners LLC now owns 41,920 shares of the company's stock valued at $708,000 after buying an additional 1,485 shares in the last quarter. 24.70% of the stock is currently owned by institutional investors.

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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