Short Interest in SR Bancorp, Inc. (NASDAQ:SRBK) Decreases By 25.9%

SR Bancorp, Inc. (NASDAQ:SRBK) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 462,417 shares, a drop of 25.9% from the March 31st total of 624,312 shares. Based on an average daily volume of 23,097 shares, the short-interest ratio is presently 20.0 days. Currently, 6.0% of the company’s stock are short sold.

Insider Buying and Selling

In other SR Bancorp news, CFO Harris M. Faqueri bought 3,000 shares of the business’s stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $16.40 per share, for a total transaction of $49,200.00. Following the purchase, the chief financial officer owned 13,000 shares in the company, valued at approximately $213,200. This trade represents a 30.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 5,570 shares of company stock worth $91,979. Company insiders own 7.82% of the company’s stock.

Hedge Funds Weigh In On SR Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Saber Capital Managment LLC purchased a new position in shares of SR Bancorp in the 4th quarter worth $4,270,000. Geode Capital Management LLC boosted 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 worth $2,525,000 after buying an additional 90,873 shares during the last quarter. Mangrove Partners IM LLC boosted its stake in shares of SR Bancorp by 5.2% in the 3rd quarter. Mangrove Partners IM LLC now owns 173,310 shares of the company’s stock worth $2,615,000 after buying an additional 8,492 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of SR Bancorp by 28.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 63,891 shares of the company’s stock worth $1,006,000 after buying an additional 14,183 shares during the last quarter. Finally, Covalent Partners LLC boosted its stake in shares of SR Bancorp by 49.0% in the 4th quarter. Covalent Partners LLC now owns 60,000 shares of the company’s stock worth $944,000 after buying an additional 19,740 shares during the last quarter. 24.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded SR Bancorp from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, SR Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

SR Bancorp Stock Performance

Shares of SRBK stock traded down $0.60 on Friday, reaching $18.71. The stock had a trading volume of 44,927 shares, compared to its average volume of 40,227. The stock has a market cap of $156.04 million, a P/E ratio of 44.86 and a beta of 0.48. SR Bancorp has a 1 year low of $12.30 and a 1 year high of $19.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day simple moving average of $17.35 and a 200 day simple moving average of $16.44.

SR Bancorp (NASDAQ:SRBK) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $8.36 million for the quarter, compared to the consensus estimate of $8.50 million. SR Bancorp had a return on equity of 1.40% and a net margin of 6.39%.

SR Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, March 31st. SR Bancorp’s dividend payout ratio (DPR) is 47.62%.

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.