Insider Buying: SR Bancorp (NASDAQ:SRBK) Director Buys 1,000 Shares of Stock

SR Bancorp, Inc. (NASDAQ:SRBK) Director Thomas Lupo bought 1,000 shares of SR Bancorp stock in a transaction dated Monday, February 23rd. The stock was purchased at an average price of $16.47 per share, with a total value of $16,470.00. Following the purchase, the director directly owned 44,015 shares in the company, valued at approximately $724,927.05. This trade represents a 2.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

SR Bancorp Stock Performance

Shares of SR Bancorp stock traded up $0.34 on Tuesday, reaching $16.74. 33,142 shares of the stock were exchanged, compared to its average volume of 40,406. The firm has a market capitalization of $139.57 million, a PE ratio of 46.32 and a beta of 0.53. SR Bancorp, Inc. has a 1-year low of $11.36 and a 1-year high of $18.04. The business has a fifty day moving average price of $16.67 and a two-hundred day moving average price of $15.60. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.27.

SR Bancorp (NASDAQ:SRBK) last released its earnings results on Wednesday, January 28th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). SR Bancorp had a return on equity of 1.27% and a net margin of 5.82%.The business had revenue of $8.37 million for the quarter, compared to analyst estimates of $8.50 million.

SR Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. SR Bancorp’s payout ratio is currently 55.56%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SRBK shares. Weiss Ratings reissued a “hold (c)” rating on shares of SR Bancorp in a research note on Thursday, January 22nd. Hovde Group began coverage on shares of SR Bancorp in a research report on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 price objective on the stock. Finally, Wall Street Zen cut shares of SR Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.00.

Institutional Trading of SR Bancorp

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of SR Bancorp by 142.1% during the third quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company’s stock valued at $36,000 after buying an additional 1,381 shares during the period. Bank of America Corp DE increased its position in shares of SR Bancorp by 4,158.2% in the second quarter. Bank of America Corp DE now owns 3,364 shares of the company’s stock worth $45,000 after acquiring an additional 3,285 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in SR Bancorp in the third quarter valued at about $53,000. JPMorgan Chase & Co. purchased a new position in SR Bancorp in the 2nd quarter worth approximately $50,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in SR Bancorp in the second quarter valued at about $58,000. Institutional investors and hedge funds own 24.70% of the company’s stock.

About SR Bancorp

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.