SR Bancorp (NASDAQ:SRBK) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of SR Bancorp (NASDAQ:SRBK) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Hovde Group started coverage on SR Bancorp in a report on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 target price for the company. Weiss Ratings upgraded SR Bancorp from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

SR Bancorp Trading Up 0.1%

Shares of SRBK stock opened at $15.03 on Friday. The firm has a fifty day moving average of $14.89 and a 200-day moving average of $14.23. The stock has a market cap of $128.21 million, a price-to-earnings ratio of 40.62 and a beta of 0.56. SR Bancorp has a 52-week low of $11.01 and a 52-week high of $15.45. 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 issued its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter. SR Bancorp had a net margin of 6.28% and a return on equity of 1.42%. The business had revenue of $8.16 million for the quarter.

SR Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in SR Bancorp by 142.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock worth $36,000 after buying an additional 1,381 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its position in shares of SR Bancorp by 6.9% during the third quarter. Pekin Hardy Strauss Inc. now owns 31,000 shares of the company’s stock worth $468,000 after purchasing an additional 2,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SR Bancorp by 76.2% during the third quarter. JPMorgan Chase & Co. now owns 6,576 shares of the company’s stock worth $99,000 after purchasing an additional 2,843 shares in the last quarter. Bank of America Corp DE grew its stake in shares of SR Bancorp by 4,158.2% during the second quarter. Bank of America Corp DE now owns 3,364 shares of the company’s stock valued at $45,000 after purchasing an additional 3,285 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of SR Bancorp in the third quarter valued at approximately $53,000. 24.70% of the stock is owned by institutional investors.

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.