SR Bancorp (NASDAQ:SRBK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SR Bancorp (NASDAQ:SRBK) from a sell rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of SR Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

SR Bancorp Stock Performance

Shares of NASDAQ SRBK opened at $18.56 on Friday. SR Bancorp has a 12 month low of $14.33 and a 12 month high of $20.95. The company has a market cap of $150.34 million, a P/E ratio of 41.24 and a beta of 0.57. The business’s 50 day moving average is $19.59 and its two-hundred day moving average is $18.87. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.36.

SR Bancorp (NASDAQ:SRBK) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $8.56 million during the quarter, compared to the consensus estimate of $8.60 million. SR Bancorp had a net margin of 6.47% and a return on equity of 1.62%.

SR Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 30th. SR Bancorp’s dividend payout ratio is presently 53.33%.

Institutional Investors Weigh In On SR Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG acquired a new position in shares of SR Bancorp in the 2nd quarter valued at $135,000. Ritholtz Wealth Management acquired a new stake in shares of SR Bancorp during the 1st quarter valued at about $333,000. Bank of New York Mellon Corp acquired a new stake in shares of SR Bancorp during the 2nd quarter valued at about $427,000. Arcus Capital Partners LLC increased its stake in SR Bancorp by 3.7% in the first quarter. Arcus Capital Partners LLC now owns 41,920 shares of the company’s stock valued at $708,000 after acquiring an additional 1,485 shares during the period. Finally, Ancora Advisors LLC increased its stake in SR Bancorp by 2.2% in the second quarter. Ancora Advisors LLC now owns 48,600 shares of the company’s stock valued at $956,000 after acquiring an additional 1,050 shares during the period. Institutional investors own 24.70% of the company’s stock.

About SR Bancorp

SR Bancorp, Inc is the bank holding company for Somerset Savings Bank, S.L.A., a community-oriented savings institution headquartered in Bound Brook, New Jersey. The bank provides deposit products and lending services to individuals, families and businesses in the communities it serves.

Its lending activities include residential real estate mortgages, home equity loans, commercial real estate loans, construction financing, commercial business loans and consumer lending. Deposit offerings include checking, savings, money market and certificate of deposit accounts, along with related digital and traditional banking services.

Somerset Savings Bank traces its history to 1887 and operates primarily in central New Jersey, including Somerset and surrounding counties.