SR Bancorp (NASDAQ:SRBK) Trading 1.3% Higher – Still a Buy?
by Scott Moore · The Cerbat GemSR Bancorp, Inc. (NASDAQ:SRBK – Get Free Report)’s share price traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $16.62 and last traded at $16.33. 58,677 shares changed hands during trading, an increase of 64% from the average session volume of 35,729 shares. The stock had previously closed at $16.12.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SRBK. Weiss Ratings raised shares of SR Bancorp from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, October 8th. Hovde Group began coverage on shares of SR Bancorp in a research note on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 price objective for the company. Finally, Wall Street Zen cut SR Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SR Bancorp currently has a consensus rating of “Hold” and a consensus price target of $16.00.
Get Our Latest Stock Analysis on SR Bancorp
SR Bancorp Stock Up 0.1%
The company has a 50-day moving average of $15.72 and a 200-day moving average of $14.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $139.38 million, a price-to-earnings ratio of 44.16 and a beta of 0.54.
SR Bancorp (NASDAQ:SRBK – Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $8.39 million during the quarter. SR Bancorp had a return on equity of 1.42% and a net margin of 6.28%.
SR Bancorp Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. SR Bancorp’s payout ratio is currently 54.05%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of SR Bancorp by 94.5% during the second quarter. Geode Capital Management LLC now owns 187,005 shares of the company’s stock valued at $2,525,000 after buying an additional 90,873 shares during the last quarter. Marshall Wace LLP purchased a new stake in SR Bancorp during the 2nd quarter valued at about $434,000. Pekin Hardy Strauss Inc. purchased a new stake in SR Bancorp during the 2nd quarter valued at about $392,000. Jane Street Group LLC acquired a new position in shares of SR Bancorp in the first quarter valued at about $263,000. Finally, Two Sigma Investments LP purchased a new stake in shares of SR Bancorp during the 3rd quarter worth about $290,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.
SR Bancorp Company Profile
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.