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

SR Bancorp, Inc. (NASDAQ:SRBK) CEO William Taylor purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was purchased at an average cost of $15.79 per share, for a total transaction of $15,790.00. Following the transaction, the chief executive officer owned 73,838 shares of the company’s stock, valued at approximately $1,165,902.02. This trade represents a 1.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

SR Bancorp Stock Performance

NASDAQ:SRBK traded up $0.45 during midday trading on Wednesday, reaching $15.63. The stock had a trading volume of 24,828 shares, compared to its average volume of 41,935. The stock has a market capitalization of $133.28 million, a P/E ratio of 42.23 and a beta of 0.55. SR Bancorp, Inc. has a 1-year low of $11.22 and a 1-year high of $15.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day simple moving average is $14.93 and its 200-day simple moving average is $14.34.

SR Bancorp (NASDAQ:SRBK) last released its quarterly earnings results on Wednesday, November 20th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $8.39 million during the quarter. SR Bancorp had a net margin of 6.28% and a return on equity of 1.42%.

SR Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. SR Bancorp’s dividend payout ratio (DPR) is currently 54.05%.

Hedge Funds Weigh In On SR Bancorp

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings upgraded SR Bancorp from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, October 8th. Wall Street Zen cut shares of SR Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Hovde Group started coverage on shares of SR Bancorp in a research note on Tuesday, November 18th. They set a “market perform” rating and a $16.00 price target for the company. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

SR Bancorp Company Profile

SR Bancorp, Inc operates as the holding company for Somerset Regal Bank that provides customary retail and commercial banking services to individuals, businesses, and local municipalities in the communities of Somerset, Middlesex, Hunterdon, and Essex counties in New Jersey. It offers deposit instruments, including noninterest-bearing demand deposits, interest-bearing demand accounts, savings accounts, money market accounts, and certificates of deposit.