SR Bancorp (NASDAQ:SRBK) Trading 1.3% Higher - Here's Why

SR Bancorp, Inc. (NASDAQ:SRBK - Get Free Report) rose 1.3% on Thursday . The company traded as high as $16.62 and last traded at $16.33. Approximately 58,677 shares changed hands during trading, an increase of 64% from the average daily volume of 35,729 shares. The stock had previously closed at $16.12.Analysts Set New Price TargetsSeveral equities analysts have recently commented on the company. Wall Street Zen lowered SR Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, November 22nd. Weiss Ratings upgraded shares of SR Bancorp from a "sell (d)" rating to a "hold (c)" rating in a report on Wednesday, October 8th. Finally, Hovde Group assumed coverage on shares of SR Bancorp in a research report on Tuesday, November 18th. They set a "market perform" rating and a $16.00 target price on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, SR Bancorp currently has a consensus rating of "Hold" and an average target price of $16.00.Check Out Our Latest Report on SR BancorpSR Bancorp Price PerformanceThe company has a market cap of $139.29 million, a PE ratio of 44.14 and a beta of 0.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $14.92. SR Bancorp (NASDAQ:SRBK - Get Free Report) last released its quarterly earnings results on Wednesday, November 20th. The company reported $0.16 EPS for the quarter. SR Bancorp had a net margin of 6.28% and a return on equity of 1.42%. The business had revenue of $8.39 million during the quarter. SR Bancorp Announces DividendThe company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, December 31st. SR Bancorp's dividend payout ratio (DPR) is 54.05%. Hedge Funds Weigh In On SR BancorpA number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of SR Bancorp by 142.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,353 shares of the company's stock worth $36,000 after purchasing an additional 1,381 shares in the last quarter. Bank of America Corp DE increased its position in 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 valued at $45,000 after buying an additional 3,285 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in SR Bancorp in the second quarter valued at about $50,000. Russell Investments Group Ltd. acquired a new stake in SR Bancorp in the third quarter worth about $53,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of SR Bancorp during the second quarter worth about $58,000. 24.70% of the stock is owned by institutional investors and hedge funds. SR Bancorp Company Profile (Get Free Report)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.See AlsoFive stocks we like better than SR BancorpElon Taking SpaceX Public! $100 Pre-IPO Opportunity!Do not delete, read immediatelyThis stock gets a 94 out of 100Ticker Revealed: Pre-IPO Access to "Next Elon Musk" CompanyHow the Rich RetireThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in SR Bancorp Right Now?Before you consider SR Bancorp, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SR Bancorp wasn't on the list.While SR Bancorp currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here