SR Bancorp (NASDAQ:SRBK) Trading 0.7% Higher – Should You Buy?

Shares of SR Bancorp, Inc. (NASDAQ:SRBK) shot up 0.7% on Tuesday . The stock traded as high as $19.36 and last traded at $19.28. Approximately 17,771 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 36,329 shares. The stock had previously closed at $19.14.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SRBK. Weiss Ratings reissued a “buy (b-)” rating on shares of SR Bancorp in a research report on Monday, June 29th. Hovde Group boosted their price target on shares of SR Bancorp from $18.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of SR Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, SR Bancorp currently has an average rating of “Moderate Buy” and an average price target of $19.00.

SR Bancorp Stock Up 2.8%

The firm has a market cap of $163.22 million, a price-to-earnings ratio of 47.98 and a beta of 0.55. The firm has a 50 day moving average of $18.85 and a 200 day moving average of $17.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.

SR Bancorp (NASDAQ:SRBK) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $8.36 million for the quarter, compared to analyst estimates of $8.50 million. SR Bancorp had a return on equity of 1.41% and a net margin of 6.39%.

SR Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, June 30th. This is a boost from SR Bancorp’s previous quarterly dividend of $0.05. SR Bancorp’s dividend payout ratio is presently 57.14%.

SR Bancorp declared that its board has initiated a share buyback plan on Thursday, May 21st that authorizes the company to buyback 801,320,000,000 outstanding shares. This buyback authorization authorizes the company to buy up to 9.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On SR Bancorp

A number of large investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in SR Bancorp in the first quarter valued at $263,000. Geode Capital Management LLC grew its stake in shares of SR Bancorp by 94.5% in the 2nd quarter. Geode Capital Management LLC now owns 187,005 shares of the company’s stock valued at $2,525,000 after buying an additional 90,873 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of SR Bancorp in the 2nd quarter valued at about $50,000. New York State Common Retirement Fund bought a new stake in SR Bancorp in the 2nd quarter valued at about $103,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in SR Bancorp in the 2nd quarter valued at about $155,000. 24.70% of the stock is currently owned by institutional investors and hedge funds.

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.