SR Bancorp, Inc. (NASDAQ:SRBK) Sees Significant Increase in Short Interest

SR Bancorp, Inc. (NASDAQ:SRBK) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 84,900 shares, a growth of 27.5% from the May 15th total of 66,600 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 48,500 shares, the short-interest ratio is presently 1.8 days.

SR Bancorp Stock Up 0.1%

SRBK stock opened at $13.03 on Thursday. 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 company has a market capitalization of $117.27 million, a price-to-earnings ratio of -1,303,000.00 and a beta of 0.57. SR Bancorp has a fifty-two week low of $9.12 and a fifty-two week high of $13.65. The stock has a fifty day moving average of $12.95 and a 200-day moving average of $12.31.

SR Bancorp (NASDAQ:SRBK) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.06 earnings per share for the quarter. The company had revenue of $7.73 million during the quarter. SR Bancorp had a negative return on equity of 0.05% and a negative net margin of 0.24%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised SR Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In other news, CEO William P. Taylor bought 2,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were bought at an average cost of $13.00 per share, with a total value of $26,000.00. Following the completion of the transaction, the chief executive officer now directly owns 72,838 shares of the company’s stock, valued at $946,894. This trade represents a 2.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David M. Orbach bought 5,000 shares of the stock in a transaction dated Monday, May 19th. The shares were purchased at an average cost of $13.19 per share, for a total transaction of $65,950.00. Following the completion of the transaction, the insider now directly owns 193,032 shares of the company’s stock, valued at $2,546,092.08. This trade represents a 2.66% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 10,500 shares of company stock worth $137,315. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its position in shares of SR Bancorp by 34.3% in the fourth quarter. Northern Trust Corp now owns 18,592 shares of the company’s stock valued at $221,000 after acquiring an additional 4,748 shares during the period. Jane Street Group LLC purchased a new position in SR Bancorp in the 1st quarter worth approximately $263,000. Arcus Capital Partners LLC purchased a new position in SR Bancorp in the 1st quarter worth approximately $483,000. Finally, Mink Brook Asset Management LLC purchased a new position in SR Bancorp in the 4th quarter worth approximately $3,384,000. Institutional investors own 24.70% of the company’s stock.

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.