Short Interest in SR Bancorp, Inc. (NASDAQ:SRBK) Increases By 27.5%

SR Bancorp, Inc. (NASDAQ:SRBK) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 84,900 shares, a growth of 27.5% from the May 15th total of 66,600 shares. Based on an average daily volume of 48,500 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.1% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, insider David M. Orbach purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $13.19 per share, for a total transaction of $65,950.00. Following the acquisition, the insider now directly owns 193,032 shares of the company’s stock, valued at $2,546,092.08. This represents a 2.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William P. Taylor acquired 2,000 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was acquired at an average price of $13.00 per share, with a total value of $26,000.00. Following the acquisition, the chief executive officer now owns 72,838 shares in the company, valued at approximately $946,894. This trade represents a 2.82% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 10,500 shares of company stock worth $137,315 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SR Bancorp

Several institutional investors and hedge funds have recently modified their holdings of SRBK. Northern Trust Corp increased its holdings in shares of SR Bancorp by 34.3% during the 4th quarter. Northern Trust Corp now owns 18,592 shares of the company’s stock worth $221,000 after buying an additional 4,748 shares during the last quarter. Jane Street Group LLC purchased a new position in SR Bancorp in the first quarter worth approximately $263,000. Arcus Capital Partners LLC acquired a new position in shares of SR Bancorp during the 1st quarter worth about $483,000. Finally, Mink Brook Asset Management LLC purchased a new position in shares of SR Bancorp in the 4th quarter valued at $3,384,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of SR Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

SR Bancorp Stock Performance

SRBK stock opened at $13.02 on Wednesday. The firm has a market cap of $117.18 million, a price-to-earnings ratio of -1,302,000.00 and a beta of 0.57. The business’s fifty day simple moving average is $12.93 and its two-hundred day simple moving average is $12.31. SR Bancorp has a twelve month low of $9.12 and a twelve month high of $13.65. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.15.

SR Bancorp (NASDAQ:SRBK) last announced its earnings results on Wednesday, April 30th. The company reported $0.06 EPS for the quarter. SR Bancorp had a negative net margin of 0.24% and a negative return on equity of 0.05%. The business had revenue of $7.73 million during the quarter.

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.