Dimensional Fund Advisors LP Purchases 27,213 Shares of SR Bancorp, Inc. $SRBK

Dimensional Fund Advisors LP lifted its position in SR Bancorp, Inc. (NASDAQ:SRBK) by 42.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 91,104 shares of the company’s stock after buying an additional 27,213 shares during the period. Dimensional Fund Advisors LP’s holdings in SR Bancorp were worth $1,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SRBK. Saber Capital Managment LLC bought a new stake in shares of SR Bancorp during the 4th quarter worth about $4,270,000. Geode Capital Management LLC increased its position in SR Bancorp by 94.5% during the 2nd quarter. Geode Capital Management LLC now owns 187,005 shares of the company’s stock valued at $2,525,000 after purchasing an additional 90,873 shares during the period. Marshall Wace LLP bought a new stake in shares of SR Bancorp during the 2nd quarter valued at about $434,000. Jane Street Group LLC acquired a new stake in SR Bancorp in the first quarter valued at approximately $263,000. Finally, Covalent Partners LLC raised its stake in shares of SR Bancorp by 49.0% in the fourth quarter. Covalent Partners LLC now owns 60,000 shares of the company’s stock worth $944,000 after purchasing an additional 19,740 shares during the last quarter. Institutional investors and hedge funds own 24.70% of the company’s stock.

Wall Street Analyst Weigh In

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

SR Bancorp Stock Down 0.6%

SRBK stock opened at $20.15 on Friday. The company has a market capitalization of $163.22 million, a P/E ratio of 44.78 and a beta of 0.56. The firm’s fifty day simple moving average is $19.39 and its 200-day simple moving average is $18.22. SR Bancorp, Inc. has a 12 month low of $14.10 and a 12 month high of $20.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 1.04.

SR Bancorp (NASDAQ:SRBK) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $8.58 million for the quarter, compared to analysts’ expectations of $8.60 million. SR Bancorp had a return on equity of 1.61% and a net margin of 6.47%.

SR Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.06 per share. This is a boost from SR Bancorp’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, June 30th. SR Bancorp’s dividend payout ratio is currently 53.33%.

SR Bancorp announced that its Board of Directors has authorized a stock buyback program on Thursday, May 21st that authorizes the company to repurchase 801,320,000,000 shares. This repurchase authorization authorizes the company to buy up to 9.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.