Weiss Ratings Upgrades SR Bancorp (NASDAQ:SRBK) to Hold (C)

Key Points

• SR Bancorp has been upgraded from a "sell (d)" to a "hold (c)" rating by Weiss Ratings, and also from "sell" to "hold" by Wall Street Zen.
• The company's current market capitalization is $128.12 million with a P/E ratio of 33.43 and shares currently trading at $14.71.
• Institutional investors have shown increased interest, with firms like Geode Capital Management raising their holdings by 94.5% in the second quarter.

SR Bancorp (NASDAQ:SRBK - Get Free Report) was upgraded by analysts at Weiss Ratings from a "sell (d)" rating to a "hold (c)" rating in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised SR Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

SR Bancorp Trading Down 1.2%

Shares of SRBK stock opened at $14.71 on Wednesday. The stock's fifty day moving average is $14.75 and its two-hundred day moving average is $13.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $128.12 million, a P/E ratio of 33.43 and a beta of 0.57. SR Bancorp has a fifty-two week low of $10.54 and a fifty-two week high of $15.45.

SR Bancorp (NASDAQ:SRBK - Get Free Report) last announced 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 for the quarter. SR Bancorp had a return on equity of 1.75% and a net margin of 7.70%.

Hedge Funds Weigh In On SR Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arcus Capital Partners LLC purchased a new position in SR Bancorp during the 1st quarter valued at about $483,000. Mink Brook Asset Management LLC boosted its holdings in SR Bancorp by 27.7% during 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 period. Geode Capital Management LLC boosted its holdings in SR Bancorp by 94.5% during the 2nd quarter. Geode Capital Management LLC now owns 187,005 shares of the company's stock valued at $2,525,000 after acquiring an additional 90,873 shares during the period. Marshall Wace LLP purchased a new position in shares of SR Bancorp in the 2nd quarter valued at about $434,000. Finally, Jane Street Group LLC purchased a new position in shares of SR Bancorp in the 1st quarter valued at about $263,000. 24.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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