SR Bancorp (NASDAQ:SRBK) Coverage Initiated by Analysts at Hovde Group

Hovde Group started coverage on shares of SR Bancorp (NASDAQ:SRBK) in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $16.00 target price on the stock.

A number of other equities analysts have also commented on the company. Weiss Ratings raised SR Bancorp from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of SR Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.00.

SR Bancorp Stock Performance

Shares of SR Bancorp stock opened at $14.98 on Tuesday. The stock has a market cap of $130.43 million, a price-to-earnings ratio of 40.49 and a beta of 0.57. SR Bancorp has a twelve month low of $10.92 and a twelve month high of $15.45. The company’s fifty day moving average is $14.89 and its 200 day moving average is $14.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

SR Bancorp (NASDAQ:SRBK) last announced its earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter. SR Bancorp had a return on equity of 1.42% and a net margin of 6.28%.The firm had revenue of $8.16 million for the quarter.

SR Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. SR Bancorp’s dividend payout ratio is presently 54.05%.

Institutional Investors Weigh In On SR Bancorp

A number of large investors have recently bought and sold shares of SRBK. Mink Brook Asset Management LLC raised its holdings in shares of SR Bancorp by 27.7% during the first quarter. Mink Brook Asset Management LLC now owns 362,952 shares of the company’s stock valued at $4,330,000 after purchasing an additional 78,811 shares during the period. Jane Street Group LLC acquired a new position in SR Bancorp during the 1st quarter worth approximately $263,000. Pekin Hardy Strauss Inc. acquired a new stake in SR Bancorp in the second quarter valued at approximately $392,000. Geode Capital Management LLC increased 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 acquiring an additional 90,873 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of SR Bancorp during the second quarter worth approximately $50,000. 24.70% of the stock is currently owned by institutional investors and hedge funds.

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.