SR Bancorp, Inc. (NASDAQ:SRBK) SVP James Castelletti Acquires $12,340 in Stock

On December 18th, James Castelletti, the Senior Vice President of SR Bancorp, Inc. (NASDAQ:SRBK), made a significant investment by purchasing 1,000 shares of the company’s stock. The acquisition occurred at an average price of $12.34 per share, bringing the total value of the transaction to $12,340. Following this purchase, Castelletti now holds 1,000 shares in the company, valued at approximately $12,340, which indicates a full increase in his stock position. This transaction was detailed in a filing with the Securities and Exchange Commission (SEC).

Current Stock Performance

As of the latest trading session on Friday, SR Bancorp’s stock opened at $12.17. The company has a fifty-day moving average of $11.31 and a two-hundred-day moving average of $10.36. Within the past year, the stock has seen a low of $8.94 and a high of $12.46. SR Bancorp, Inc. carries a market capitalization of approximately $114.91 million, a price-to-earnings (P/E) ratio of 101.43, and a beta of 1.07. Additionally, the company demonstrates a current ratio of 1.00, a quick ratio of 1.00, and a debt-to-equity ratio of 0.10.

Institutional Investment Activity

Recently, various hedge funds have shown interest in SR Bancorp's shares. For instance, Geode Capital Management LLC increased its holdings by 30.7% in the third quarter, now owning 93,372 shares valued at $1,041,000 after acquiring an additional 21,930 shares. Fourthstone LLC also made a move by acquiring a new stake in SR Bancorp worth around $756,000 during the same period. Furthermore, Arcus Capital Partners LLC also established a new position valued at approximately $276,000. Currently, institutional investors and hedge funds own around 24.70% of the company's stock.

Company Overview

SR Bancorp, Inc. serves as the holding company for Somerset Regal Bank, providing a range of retail and commercial banking services to individuals, businesses, and local municipalities in New Jersey’s Somerset, Middlesex, Hunterdon, and Essex counties. The bank offers various deposit products, including noninterest-bearing demand deposits, interest-bearing demand accounts, savings accounts, money market accounts, and certificates of deposit.

Conclusion

The recent stock purchase by SVP Castelletti reflects confidence in SR Bancorp's future performance. Investors are closely monitoring the activity around this stock amid an evolving financial landscape.

SRBancorp, Stock, Investment