SR Bancorp (NASDAQ:SRBK) Stock Price Up 1.3% – What’s Next?

SR Bancorp, Inc. (NASDAQ:SRBK)’s share price shot up 1.3% during trading on Thursday . The stock traded as high as $16.62 and last traded at $16.33. 58,677 shares were traded during mid-day trading, an increase of 64% from the average session volume of 35,729 shares. The stock had previously closed at $16.12.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SRBK. Wall Street Zen downgraded shares of SR Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Hovde Group assumed coverage on shares of SR Bancorp in a report on Tuesday, November 18th. They set a “market perform” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings raised SR Bancorp from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.00.

SR Bancorp Stock Performance

The firm’s 50 day simple moving average is $15.69 and its 200 day simple moving average is $14.92. The firm has a market capitalization of $139.29 million, a price-to-earnings ratio of 44.14 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.02 and a current ratio of 1.02.

SR Bancorp (NASDAQ:SRBK) last released its quarterly earnings data on Wednesday, November 20th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $8.39 million for the quarter. SR Bancorp had a net margin of 6.28% and a return on equity of 1.42%.

SR Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. SR Bancorp’s dividend payout ratio (DPR) is presently 54.05%.

Institutional Trading of SR Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in SR Bancorp by 76.2% during the third quarter. JPMorgan Chase & Co. now owns 6,576 shares of the company’s stock valued at $99,000 after acquiring an additional 2,843 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of SR Bancorp during the 3rd quarter worth approximately $290,000. Mangrove Partners IM LLC grew its stake in shares of SR Bancorp by 5.2% during the 3rd quarter. Mangrove Partners IM LLC now owns 173,310 shares of the company’s stock worth $2,615,000 after purchasing an additional 8,492 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of SR Bancorp by 142.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock valued at $36,000 after purchasing an additional 1,381 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of SR Bancorp in the 3rd quarter valued at $53,000. 24.70% of the stock is owned by institutional investors and hedge funds.

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.