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

Key Points

• SR Bancorp has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, reflecting a positive change in analysts' outlook.
• The company reported $0.06 EPS for its most recent quarter, with a revenue of $7.97 million and a net margin of 7.70%.
• Insider activity includes purchases by CEO William P. Taylor and David M. Orbach, increasing their positions in the company, which indicates confidence from leadership.

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

SR Bancorp Price Performance

Shares of SR Bancorp stock traded up $0.13 on Friday, reaching $14.16. 4,930 shares of the stock were exchanged, compared to its average volume of 48,663. The firm's 50 day moving average is $13.60 and its 200-day moving average is $12.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. SR Bancorp has a one year low of $9.55 and a one year high of $14.96. The firm has a market cap of $127.44 million, a PE ratio of 32.18 and a beta of 0.59.

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

SR Bancorp Dividend Announcement

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

Insider Buying and Selling

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

Institutional Investors Weigh In On SR Bancorp

Large investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in SR Bancorp in the 1st quarter worth approximately $263,000. Mink Brook Asset Management LLC grew its position in SR Bancorp by 27.7% in the 1st quarter. Mink Brook Asset Management LLC now owns 362,952 shares of the company's stock valued at $4,330,000 after acquiring an additional 78,811 shares during the last quarter. Arcus Capital Partners LLC bought a new position in SR Bancorp in the 1st quarter valued at $483,000. Finally, Northern Trust Corp grew its position in shares of SR Bancorp by 34.3% during the 4th quarter. Northern Trust Corp now owns 18,592 shares of the company's stock worth $221,000 after buying an additional 4,748 shares in the last quarter. 24.70% of the stock is currently owned by institutional investors.

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.