SR Bancorp (NASDAQ:SRBK) Upgraded at Wall Street Zen

Key Points

• SR Bancorp was upgraded from a "sell" to a "hold" rating by Wall Street Zen, although it still holds a consensus rating of "sell" according to MarketBeat.
• The stock is currently trading at $14.87, reflecting a decline of 0.4% during recent trading sessions.
• Institutional investors hold approximately 24.7% of SR Bancorp's stock, with notable increases in positions from hedge funds such as Geode Capital Management and Mink Brook Asset Management.

SR Bancorp (NASDAQ:SRBK - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of SR Bancorp in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

SR Bancorp Stock Down 0.4%

NASDAQ:SRBK traded down $0.06 during trading hours on Friday, hitting $14.87. 26,118 shares of the stock traded hands, compared to its average volume of 37,017. The firm has a 50 day moving average price of $14.71 and a 200 day moving average price of $13.60. 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 has a fifty-two week low of $10.54 and a fifty-two week high of $15.45. The firm has a market cap of $129.52 million, a price-to-earnings ratio of 33.80 and a beta of 0.57.

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

Hedge Funds Weigh In On SR Bancorp

Hedge funds have recently bought and sold shares of the business. Arcus Capital Partners LLC acquired a new position in SR Bancorp during the first quarter worth $483,000. Mink Brook Asset Management LLC increased its position in SR Bancorp by 27.7% during the first quarter. Mink Brook Asset Management LLC now owns 362,952 shares of the company's stock worth $4,330,000 after buying an additional 78,811 shares during the last quarter. Geode Capital Management LLC increased its position in SR Bancorp by 94.5% during the second quarter. Geode Capital Management LLC now owns 187,005 shares of the company's stock worth $2,525,000 after buying an additional 90,873 shares during the last quarter. Marshall Wace LLP acquired a new position in SR Bancorp during the second quarter worth $434,000. Finally, Jane Street Group LLC acquired a new position in SR Bancorp during the first quarter worth $263,000. 24.70% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.