Short Interest in SR Bancorp, Inc. (NASDAQ:SRBK) Drops By 41.3%

SR Bancorp, Inc. (NASDAQ:SRBK) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 12,500 shares, a drop of 41.3% from the August 31st total of 21,300 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 35,400 shares, the days-to-cover ratio is presently 0.4 days.

Insider Transactions at SR Bancorp

In related news, insider David M. Orbach purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $9.69 per share, with a total value of $96,900.00. Following the completion of the purchase, the insider now owns 130,000 shares of the company’s stock, valued at approximately $1,259,700. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other SR Bancorp news, Director Thomas Lupo acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost of $10.58 per share, with a total value of $52,900.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $211,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David M. Orbach bought 10,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average price of $9.69 per share, for a total transaction of $96,900.00. Following the completion of the acquisition, the insider now owns 130,000 shares in the company, valued at $1,259,700. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 19,000 shares of company stock valued at $189,360.

Institutional Investors Weigh In On SR Bancorp

A hedge fund recently raised its stake in SR Bancorp stock. Vanguard Group Inc. boosted its position in SR Bancorp, Inc. (NASDAQ:SRBK) by 31.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 446,393 shares of the company’s stock after purchasing an additional 106,843 shares during the quarter. Vanguard Group Inc. owned approximately 4.69% of SR Bancorp worth $4,214,000 at the end of the most recent reporting period. 24.70% of the stock is owned by hedge funds and other institutional investors.

SR Bancorp Stock Up 1.3 %

Shares of SRBK opened at $11.01 on Thursday. The company has a 50 day moving average price of $9.97 and a 200-day moving average price of $9.50. SR Bancorp has a fifty-two week low of $8.01 and a fifty-two week high of $11.20.

SR Bancorp (NASDAQ:SRBK) last posted its earnings results on Tuesday, July 30th. The company reported ($0.34) earnings per share for the quarter. SR Bancorp had a negative return on equity of 5.52% and a negative net margin of 28.30%. The company had revenue of $4.05 million for the quarter.

About SR Bancorp

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.