SR Bancorp (NASDAQ:SRBK) Trading 2.2% Higher – Still a Buy?

Shares of SR Bancorp, Inc. (NASDAQ:SRBK) were up 2.2% during trading on Monday . The company traded as high as $17.89 and last traded at $17.88. Approximately 23,341 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 39,336 shares. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

SRBK has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of SR Bancorp in a research report on Thursday, January 22nd. Hovde Group began coverage on SR Bancorp in a research report on Tuesday, November 18th. They set a “market perform” rating and a $16.00 price target on the stock. Finally, Wall Street Zen lowered SR Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.00.

SR Bancorp Stock Up 2.2%

The stock has a market capitalization of $152.52 million, a P/E ratio of 49.67 and a beta of 0.53. The stock has a 50 day moving average price of $16.48 and a 200-day moving average price of $15.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 1.02.

SR Bancorp (NASDAQ:SRBK) last issued its earnings results on Wednesday, January 28th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). SR Bancorp had a net margin of 5.82% and a return on equity of 1.26%. The company had revenue of $8.37 million for the quarter, compared to analysts’ expectations of $8.50 million.

SR Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.05 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. SR Bancorp’s dividend payout ratio (DPR) is currently 55.56%.

Institutional Investors Weigh In On SR Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in SR Bancorp by 142.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock worth $36,000 after acquiring an additional 1,381 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 worth $45,000 after purchasing an additional 3,285 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of SR Bancorp in the second quarter worth about $50,000. Russell Investments Group Ltd. bought a new stake in shares of SR Bancorp in the third quarter worth about $53,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in SR Bancorp during the 2nd quarter valued at about $58,000. 24.70% of the stock is currently owned by institutional investors.

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.